Wiseplanet Company Surges More Than 240% on First Day of Listing, Trading at Over Three Times Its IPO Price [Stock NOW]

[Financial News] Wiseplanet Company is trading at more than three times its IPO price on its first day of listing on the KOSDAQ market.
As of 9:38 a.m. on the 23rd, Wiseplanet Company was trading at 41,050 won, up 29,050 won, or 242.08%, from its IPO price of 12,000 won.
The stock began trading at 42,750 won, or 256.25% above its IPO price, and climbed as high as 46,000 won during the session. Based on its intraday high, it was up 283.33% from the IPO price. Its intraday low was 40,200 won.
Earlier, Wiseplanet Company recorded a subscription ratio of 1,248 to 1 in its bookbuilding process for institutional investors held from the 4th to the 10th. Since 99.93% of participating investors submitted bids at or above the top of the indicative price range, the IPO price was set at the upper end of the range, between 10,000 won and 12,000 won.
The company recorded a subscription ratio of 1,477.65 to 1 in its public offering subscription for retail investors held from the 14th to the 15th. Subscription deposits totaled approximately 3.5464 trillion won. Shares available for trading on the first day of listing account for 14.42% of the total shares.
Wiseplanet Company is a brand builder that plans and develops its own brands based on consumer data analysis and digital marketing. It operates the filtered showerhead brand Dr.Piel, the mattress topper brand NUZAM, and the cosmetics brand Airenol, among others.
The company raised approximately 19.2 billion won through the IPO. The proceeds will be used to develop local products and establish online sales channels for entry into the U.S. premium water-care market, expand its existing brand lineup, and invest in and acquire consumer goods brands through mergers and acquisitions (M&A). Daishin Securities is the lead managing underwriter for the listing.

[email protected] Lee Jeong-hwa Reporter