Chaevi Surges Over 70% Above IPO Price on First Day; Introduces Buyback Option

Chaevi, an electric vehicle charging infrastructure company, began trading on the KOSDAQ on its first day of listing at a price more than 70% higher than its initial public offering price, introducing a 'repurchase option' for investor protection.

Since 2016, Chaevi has provided integrated solutions covering the development, manufacturing, installation, operation, and after-sales management of EV chargers, directly owning and operating rapid charging infrastructure spanning approximately 6,000 parking spots.

Chaevi plans to utilize the funds raised through this IPO for the enhancement of its charging infrastructure, development of next-generation ultra-fast charging technology, and the establishment of a global business foundation. CEO Choi Young-hoon stated the company will continue its transparent management and investor protection policies.