APR shares nearly double from offering price on first day

[Courtesy of Korea Exchange]

South Korean beauty-tech company APR Corp., the first to go public on the main Kospi market this year, saw its stock price nearly double on the first trading day on Tuesday.

Shares of APR were trading at 419,000 won ($314.46), up 67.6 percent from the offering price of 250,000 won as of 9:10 a.m. on Tuesday.

Founded in 2014, APR is a company that owns home beauty device brand Medicube, cosmetics brand APRILSKIN, and fashion brand NERDY.

Earlier, APR garnered investor attention during its bookbuilding session with a competition ratio of 663 to 1. The offering price was set at 250,000 won, exceeding the upper limit of the desired range of between 147,000 and 200,000 won.

The competition ratio for public subscription was 1,112 to 1, drawing about 14 trillion won in deposits.