On its first day of trading on the KOSDAQ, Kido Industry's stock price showed weakness, falling below its initial public offering (IPO) price.
According to the Korea Exchange, as of 9:30 a.m. on August 21, Kido Industry's shares were trading at 26,600 won, down 1,800 won (6.34%) from the IPO price of 28,400 won. The stock initially rose to 29,500 won but later reversed course and fell. At one point, the price dropped to 24,650 won, dipping below the IPO price.
Kido Industry is an original equipment manufacturer (OEM) and original design manufacturer (ODM) that produces outdoor and motorcycle protective gear for global brands. The company started as Oasis International in 1980 and changed its name to Kido Industry in 1994.
The company is recognized for its manufacturing capabilities, meeting the quality standards of global premium brands through proprietary composite material control technology and specialized fabric processing. Its major clients include Harley-Davidson, Barbour, Jack Wolfskin, and Schoffel.
In a previous demand forecast for institutional investors, Kido Industry recorded a competition rate of 213.3 to 1. The IPO price was set at the upper end of the desired range at 28,400 won. The subsequent public subscription saw a competition rate of 5.5 to 1, with approximately 33 billion won in subscription deposits collected.
* This article has been translated by AI.
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