AI Korea, a special purpose machinery manufacturer, experienced an 11% drop in its stock price on the first day of trading on the KOSDAQ market. The decline was observed early in the day, with the stock trading at 14,740 won, down 1,950 won from the base price of 16,690 won.
The company made its market debut through a merger with Korea’s 14th Special Purpose Acquisition Company. AI Korea specializes in developing and manufacturing automated equipment for industries like secondary batteries, robotics, and displays. Founded in 2003, the company has a strong foothold in advanced industries.
AI Korea’s major products include a supply system for electrolyte in secondary batteries. Despite a previous attempt to list on the Korea Exchange in 2023, which was later withdrawn, the company successfully went public on the KOSDAQ market this time around.
In 2024, AI Korea achieved a revenue of 114.5 billion won and an operating profit of 8.8 billion won, marking its highest performance to date. The company plans to utilize the funds raised through the listing for research and development, particularly to enhance products like robotics, and to expand its operations by securing more orders.
A representative of AI Korea expressed optimism about the KOSDAQ listing, stating plans to bolster market share in institutional sectors and drive growth in new areas such as robotics and ammonia crackers. The move is strategic to strengthen the company’s position in the market and capitalize on emerging opportunities.
With a focus on advancing core products and exploring new business avenues, AI Korea aims to leverage the listing to propel its growth trajectory and solidify its presence in the competitive landscape.
Industry experts emphasize the importance of strategic listings like AI Korea’s on the KOSDAQ market, as they not only provide access to capital but also enhance visibility and credibility among investors. Such initiatives signify a company’s commitment to growth and innovation, positioning them for long-term success in the market.
As AI Korea navigates the dynamics of the stock market and capitalizes on its listing, the company is poised to drive innovation, expand its market reach, and seize opportunities in evolving sectors.
Overall, AI Korea’s stock market debut on the KOSDAQ exchange marks a significant milestone in the company’s journey, signaling a new chapter of growth, expansion, and strategic advancement in the competitive landscape of specialized machinery manufacturing.