IVIM Technology shares fall below IPO price on first trading day

[Photo provided by KRX]

Shares of IVIM Technology, a South Korean company specializing in intravital microscopy, dropped below their initial public offering (IPO) price in early trading on their first day on the Kosdaq.

IVIM Technology’s stock was trading at 9,550 won ($6.96) as of 9:52 a.m. on Tuesday, down 4.50 percent from its IPO price of 10,000 won.

Founded by KAIST professor and intravital microscopy researcher Kim Pil-han, IVIM Technology is developing medical devices that use artificial intelligence (AI) to analyze in vivo images to determine the presence of cancerous tissues. The company achieved a subscription rate of 1,094 to 1 during the IPO subscription, attracting deposits worth 3.05 trillion won.