[Edaily Reporter Kwon Oh Seok ] #NeoView, which debuted on the KOSDAQ market on the 27th through a spin-off and relisting, endured a harsh initiation as its stock price plummeted to the daily lower limit on its first day of trading. While there were expectations for growth following its launch as an independent entity through a spin-off, the plunge is interpreted as reflecting both supply-and-demand pressures and concerns about its future independent management.

According to MP Doctor on that day, NeoView closed at 17,950 won, down 7,650 won (29.88%) from its opening price of 25,600 won. As a stock re-listed following a spin-off, NeoView’s opening price of 25,600 won—determined through a pre-market simultaneous auction—was set as the day’s reference price. Previously, on the 23rd, the Korea Exchange had granted final approval for NeoView’s spin-off and re-listing.
NeoView is a newly established corporation formed through a spin-off of the automotive display business division of monitor and display manufacturer T TOVIS Co., LTD(051360), and it was listed today under the Mid-Cap Market segment. Previously, TOVIS Co., LTD decided to spin off its casino and industrial display business and its automotive display business through a spin-off to eliminate the conglomerate discount and enhance the expertise and profitability of its casino display business.
NeoView focuses primarily on the manufacture and sale of automotive infotainment display products, including dual and single displays, HVAC (heating, ventilation, and air conditioning) displays, and digital touch keys.
Its performance and financial structure are generally sound. According to the Korea Exchange, as of the spin-off date (July 1), NeoView’s consolidated assets totaled approximately 216.3 billion won and its equity stood at 84.8 billion won; on a standalone basis for 2024, the company reported revenue of 268.3 billion won and operating profit of 97.7 billion won. However, the market appears to have reacted coolly, as further verification is needed regarding whether the company can maintain the same performance trend under an independent management structure following the spin-off. Consequently, selling pressure mounted from the opening bell, widening the decline.
Meanwhile, TOVIS Co., LTD(051360), which was relisted on the same day, closed at 9,010 won—down 1,000 won (9.99%) from its opening price of 10,010 won. TOVIS Co., LTD plans to ensure continuity in its policies and maintain market trust by continuing to implement its existing shareholder return policy without interruption even after the launch of its independent management structure.