Higen RNM stock soars nearly 21% on second trading day

[Graphics by Song Ji-yoon]

Shares of Higen RNM Co., a South Korean manufacturer of robot actuation modules, continued to soar on Friday, the second trading day on Kosdaq.

The stock was trading at 18,200 won ($13.13) as of 10:41 a.m. Friday, up 20.05 percent from the previous session. The stock closed at 15,160 won on Thursday, up from its initial offering price of 7,000 won.

Higen RNM specializes in actuator components for robotic operations, boasting 60 years of expertise since its inception as LG Electronics Inc.‘s motor business unit in 1963.

On Friday, HVM Co., a Korean advanced metal company, made a strong debut on the Kosdaq market, with its shares trading nearly 55 percent higher than the offering price.

As of 10:38 a.m., HVM shares were trading at 27,800 won, up 54.44 percent from the offering price of 18,000 won.

Formerly known as Hankook Vacuum Metallurgy, HVM produces high-performance alloy and super-duplex steel needed for cutting-edge industries such as semiconductors, displays and aerospace.

In the institutional investors’ demand forecast, it showed a competition ratio of 837 to 1, and the offer price was set at 18,000 won, above the upper end of the expected range of 11,100 to 14,200 won.

The competition ratio for the public subscription was 960 to 1. A total of 5.2 trillion won in deposits was collected.