![](https://cdn.statically.io/img/www.ft.com/__origami/service/image/v2/images/raw/https%3A%2F%2Fcms-image-bucket-production-ap-northeast-1-a7d2.s3.ap-northeast-1.amazonaws.com%2Fimages%2F2%2F4%2F3%2F5%2F46855342-1-eng-GB%2Fimage+%2814%29.jpg?width=700&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms)
SEOUL -- EcoPro Materials, a South Korean electric vehicle battery materials company, made a surprisingly strong debut on Seoul's main stock exchange on Friday, with its shares closing up 58% from its initial public offering price.
The Pohang-based company raised 419.2 billion won ($323.3 million) in net proceeds from its initial public offering. It plans to invest 311.6 billion won in building production facilities. The IPO was the second-largest on the KOSPI exchange this year after Doosan Robotics brought in 421.2 billion won in September.