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EcoPro Materials, Doosan Robotics heat Korean IPO market

Korea Economic Daily LogoKorea Economic Daily2 mo ago

EcoPro Materials, Doosan Robotics heat Korean IPO market - Korea Economic Daily

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The stocks’ trading in value has totaled 12.2 trillion won ($9.3 billion) since the IPO, topping the $7.5 billion of Samsung Electronics Co.with the highest market capitalization in the country.“That is retail investors’ victory,” said Ahn Jung-hwan, CEO of Interlace Asset Management Co.“Individual investors also appeared to chase the stocks expecting them to be included in the Kospi 200 Index, which is predicted to attract passive funds.” The Kospi 200 Index includes the 200 largest companies listed on the main bourse and covers about 93% of the total market value.

LS Materials, an energy storage device maker, attracted more than 10 billion won from individual investors in subscription deposits for its planned listing on the junior Kosdaq later this month.“Investors appeared to focus more on IPOs as the secondary market has been in a tight range,” said an official at an IPO manager.The Kospi has gained 1.2% so far this quarter moving around the 2,500 mark.

Shares in EcoPro Materials, a unit of South Korea’s major electric vehicle battery materials producer EcoPro Group, have soared 264% by Dec.5 since it went public on Nov.17, while stocks in Doosan Robotics, a unit of local conglomerate Doosan Group, have surged 214%.Green Resource Co., an engineered and advanced materials supplier listed on Nov.24, has enjoyed a 75.3% jump in its share prices.


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Article Details

Category: Economy

Markets:

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News Sentiment: Positive

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Article Type: News Report

Published On: 2023-12-06 @ 18:03:11 (2 months ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

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Copyright Owner: © Korea Economic Daily

News ID: 19171504

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