P&S Mechanics lists on Kosdaq with a bang

[Photo provided by KRX]

Medical rehabilitation robot company P&S Mechanics is trading at about 1.4 times its initial public offering (IPO) price on its first day on the Kosdaq market.

The company’s shares traded at 30,750 won ($22.3) as of 9:43 a.m. on Wednesday, up 39.77 percent from its IPO price of 22,000 won.

Founded in 2003, P&S Mechanics has developed around 300 types of robots, with its flagship product being the ‘Walkbot,’ a robot designed to assist patients with walking difficulties via scientific gait training. The company recorded a subscription competition ratio of 1,585.92 to 1 during the public subscription, attracting a total of 5.88 trillion won in deposits.