NeoView Stocks Plunge 27.89% on First KOSDAQ Trading Day After Spinoff

NeoView, a newly relisted company on the KOSDAQ market after spinning off from Tobis, saw its stock price plunge 27.89% on its first trading day on the 27th, according to the Korea Exchange. The stock traded at 18,460 won, down 7,140 won from its opening price of 25,600 won, and fell as low as 17,950 won during the session. The sharp volatility occurred because relisted stocks have no reference price and determine their initial price through a morning simultaneous call auction.

NeoView Stock Drops 27.89% from Opening Price on Relisting Day

NeoView's opening price was set at 25,600 won through the morning simultaneous call auction, as relisted stocks do not have a reference price. Trading began based on this initial price, and the stock fell to 18,460 won during the session, representing a 7,140 won (27.89%) decline from the opening. The stock briefly touched 17,950 won intraday, extending its losses.

Korea Exchange Approved NeoView KOSDAQ Relisting on 23rd

The Korea Exchange approved NeoView's KOSDAQ market relisting on the 23rd. NeoView is a newly established corporation created through the spinoff of Tobis's automotive display division. Tobis is a monitor and display manufacturer.

NeoView operates an automotive display business focused on vehicle displays, including digital cockpits, clusters, and infotainment systems. The existing Tobis continues its display business centered on casino gaming monitors and industrial displays.

As of the 1st, the spinoff reference date, NeoView had consolidated assets of 216.3 billion won and equity of 84.8 billion won. On a separate basis in 2024, the company recorded revenue of approximately 268.3 billion won and operating profit of 97.7 billion won.

FAQ

What happened to NeoView stocks on the 27th?

NeoView stocks dropped 27.89% from the opening price of 25,600 won to 18,460 won on the 27th, the company's first trading day after relisting on the KOSDAQ market. The stock fell as low as 17,950 won during the session.

Why did NeoView experience high volatility on its relisting day?

NeoView experienced high volatility because relisted stocks have no reference price. The initial price of 25,600 won was determined through a morning simultaneous call auction, and trading based on this opening price led to significant price fluctuations in early trading.