IBKS No.24 Special Purpose AcquisitionIBKS제24호스팩

IBKS No.24 is a shell SPAC with no revenue, whose pending merger decision and recent trading halts are the main items to follow.

IBKS No.24 Special Purpose Acquisition is a blank-check company on KOSDAQ whose only purpose is to merge with a not-yet-identified private or listed company. The filings show a merger decision from June 2026, a trading halt in late September, and amended merger and shareholder meeting notices in mid-October, while the data contains no revenue and no named merger target.

What stands out

• Trailing twelve-month revenue is zero, with an operating loss of about ₩97M and net income of about ₩58M in H1 2026, so the reported profit appears to come from non-operating items.
• Annual operating losses were ₩37M in 2025 and ₩43M in 2024, and the company has no revenue in its annual figures.
• Cash of about ₩1.7B is held against borrowings of about ₩1.6B, and liabilities are 19.1% of equity.
• The share price closed at ₩3,585 on 23 October 2026, up 8.6% over one month and three months and 5.9% over one year, with a 52-week high of about ₩4,106.
• Market value is about ₩15.2B, with a P/E of 263 and P/B of 1.8, and the company pays no dividend.
• Foreign ownership rose from 0.8% to 3.1% over 60 days, while institutions were net sellers over the last 20 days and retail buyers were net buyers.

What to watch

• Details of the proposed merger and the amended merger decision and shareholder meeting notices, which the data does not describe beyond their titles.
• The upcoming resumption from the late-September trading halt and any further trading halts.
• The company's next quarterly or half-year filings, and whether a merger target is named, since the profile says none has been selected.