Business · Markets · 2 hrs ago
Jincostech shares fall below IPO price on first KOSDAQ trading day
South Korean cosmetics maker Jincostech moved from KONEX to the KOSDAQ market on October 15.
At 9:03 a.m., its shares were trading at 20,600 won, 12.34% below the 23,500 won offer price.
The company was founded in 2010 and listed on KONEX in 2019.
It develops and makes sheet masks and eye patches using hydrogel, a water-containing gel material.
Before the move, institutional demand was strong, and the offer price was set at the top of its expected range.
Retail subscriptions were also heavily oversubscribed, with about 1.7165 trillion won in deposits.
The first-day price shows that strong demand before listing did not prevent shares from opening below their offer price.
Jincostech shares traded below their IPO price on the company’s first day on the KOSDAQ.
At 9:03 a.m. on October 15, the shares were trading at 20,600 won, 12.34% below the 23,500-won IPO price.
The company set its IPO price at the top of its indicated range after institutional demand reached 1,097.62 times the available shares.
Its public offering drew 685.83 times the available shares and about 1.7165 trillion won in deposits.
Founded in 2010, Jincostech makes hydrogel-based products including sheet masks and eye patches.
- Who
- Jincostech, a cosmetics manufacturer.
- What
- Its shares traded below the IPO price on the first day of trading on the KOSDAQ.
- When
- October 15, 2026; at 9:03 a.m., shares were trading at 20,600 won.
- Where
- The KOSDAQ market in South Korea.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Jincostech was founded.
The company listed on the KONEX market.
Jincostech transferred its listing to the KOSDAQ, and its shares traded below the IPO price.
- First-day price
- 20,600 won at 9:03 a.m. on October 15
- IPO price
- 23,500 won
- Discount to IPO price
- 12.34%
- Institutional demand ratio
- 1,097.62 to 1
- Public offering subscription ratio
- 685.83 to 1
- Public offering deposits
- About 1.7165 trillion won