REVU Corporation stock price jumps by 100% from IPO price

REVU Corporation CEO Chang Dae-gyu, third from left. [Courtesy of Korea Exchange]

REVU Corporation Inc., an influencer platform company, saw its stock price rise to around twice the initial public offering (IPO) price on Friday, the first trading day since its IPO.

As of 9:05 a.m. on Friday, the stock was trading on the secondary Kosdaq market at 35,000 won ($26), up 100.33 percent from the offering price of 15,000 won.

Founded in 2014, REVU Corporation is a platform company that connects advertisers, including domestic and international companies interested in influencer marketing, with influencers, allowing influencers to share the content they produce on social media.

The company finalized its offering price at a level higher than the upper end of the target range by recording a competition rate of 643.7 to 1 during its book-building session for institutional investors. The subscription ratio for retail investors also hit 657.8 to 1, with a total of 2.76 trillion won in deposits.