Sky Labs, a company developing cuffless continuous blood pressure monitoring medical devices, recorded its upper limit on the second day of trading on the KOSDAQ. The stock price continues to significantly exceed its initial public offering (IPO) price.
According to the Korea Exchange, as of 1:20 PM on September 7, Sky Labs was trading at 30,550 won, up 7,050 won (30.00%) from the previous trading day, hitting the upper limit. This is more than three times the IPO price of 10,000 won.
Founded in 2015, Sky Labs primarily produces cuffless continuous blood pressure monitoring devices. The company specializes in digital healthcare, using a ring-shaped device worn on the finger to measure vital signs such as blood pressure.
Sky Labs plans to expand its measurement capabilities beyond blood pressure, heart rate, respiratory rate, body temperature, and oxygen saturation, based on its flagship product, the CART BP pro, and to grow its medical data business.
Last year, the company reported consolidated revenues of 7.9 billion won and an operating loss of 14.7 billion won, with Korea Investment & Securities serving as the underwriter for the IPO.
In a demand forecast conducted from August 14 to 21, the company recorded a competition ratio of 63.41 to 1. The IPO price was set at 10,000 won, which is 3,000 won lower than the lower end of the initial target range of 13,000 to 16,000 won.
* This article has been translated by AI.
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