The beauty medical device company ASTERASYS showed a strong performance on its first day of trading on the KOSDAQ market on the 24th, rising by more than 100% in early trading. In contrast, Day 1 Company and WISEnut, which also debuted that day, showed weakness, down by 10% to 20%.

ASTERASYS CI.

As of 9:21 a.m. on that day, ASTERASYS was trading at 9,480 won, up 4,880 won (106.09%) from its public offering price of 4,600 won. The company successfully achieved 'double' (twice the public offering price) shortly after opening.

ASTERASYS recorded a competition rate of 1,242 to 1 in the demand forecast conducted for institutional investors from the 6th to the 10th of this month, with participation from 2,219 domestic and foreign institutions. The public offering price was set at the upper end of the target range (4,000 to 4,600 won) at 4,600 won.

In the public subscription for individual investors held over two days starting on the 14th, the competition rate was 1,791.34 to 1. A total of 3.7596 trillion won was gathered as subscription deposits.

ASTERASYS plans to use the secured public offering funds for expanding its production capacity (CAPA) and for regulatory approval-related financing to facilitate overseas expansion. Major products of ASTERASYS include Lift Era and Cool Phase.

CEO Seo Eun-taek of ASTERASYS said, 'Even after the listing, we will enhance product competitiveness through innovative technology development and accelerate growth in the global market to share the fruits of growth with investors.'