Shares closed at 29,400 won (US$21), up 10.94 percent from their IPO price of 26,500 won. The stock opened at 51,100 won and surged as high as 57,300 won, more than double its offering price, before giving up most of its gains.
The sharp reversal came as investors took profits following the early surge. About 14.75 million shares changed hands, with trading value reaching 558.6 billion won. Its market capitalization stood at approximately 272.6 billion won at the close.
The volatile debut followed strong demand during the company's IPO. Retail subscriptions were oversubscribed 1,219.4 times, attracting about 8.2 trillion won in deposits. Institutional demand was also strong at 840.9 times the shares offered, pushing the IPO price to the top of its proposed range of 26,500 won.
Founded in 1997, Dongwon Parts manufactures parts used in semiconductor equipment for etching, deposition and cleaning 0 processes used to shape, build and clean the thin layers that make up semiconductor chips.
Its main products include showerheads and chamber parts, which are consumable components used inside chipmaking equipment. Showerheads distribute gases evenly across semiconductor wafers, while chamber parts form part of the enclosed area where the manufacturing process takes place.
The firm uses precision micro-hole drilling technology to produce components with tiny, closely controlled openings, allowing it to develop prototypes and move them into mass production.
Major customers include U.S. semiconductor equipment makers Lam Research and Axcelis Technologies, as well as South Korea's SEMES. Lam Research accounted for 45.9 percent of revenue in the first half of 2026, followed by SEMES at 33.4 percent and Axcelis at 8.1 percent.
Sales jumped about 55 percent to 92.3 billion won in 2025 from 59.5 billion won a year earlier, while operating profit rose more than sevenfold to 7.8 billion won. Revenue reached 63.3 billion won in the first half of 2026.
Dongwon Parts plans to use its IPO proceeds to expand semiconductor parts production, including construction of a seventh factory at the Namdong Industrial Complex in Incheon, west of Seoul. It also aims to diversify its business into aircraft maintenance, aircraft engine components and metal 3D printing.
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