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Gido Industry Plunges 34% on KOSDAQ Debut
Consumer Non-Durables · Apparel/Footwear · yonhap_finance · 2026-08-21
282620
Apparel manufacturer Gido Industry saw its shares drop significantly below the IPO price on its first day of trading amid a broader market downturn.
What Happened
Disappointing Debut: Gido Industry closed at 18,580 KRW on its first day of trading on the KOSDAQ, marking a 34.58% decline from its IPO price of 28,400 KRW. At one point during the session, the stock fell by more than 35%.
Market Context: The sharp decline was exacerbated by a weak broader market, as the KOSDAQ index fell by over 4% on the same day. The overall negative sentiment toward new listings hindered buying interest.
Company Profile: Gido Industry is an OEM/ODM manufacturer specializing in outdoor and motorcycle protective gear. The company had previously generated interest during its book-building process, successfully pricing its IPO at the top of the target range.
Future Outlook: The poor performance on the debut is largely attributed to unfavorable market conditions. Investors are expected to monitor the company's future earnings performance and market stabilization to assess potential recovery.