Korean IPO boom sets new record; bubble bursts after debut

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The story "Korean IPO boom sets new record; bubble bursts after debut" was covered 2 days ago by Korea Economic Daily, a news publisher based in South Korea.

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Korean IPO boom sets new record; bubble bursts after debut - Korea Economic Daily

Quick Summary:

As the IPO market has been fuelled by such investors, 27 out of the 29 newly listed firms in the first half set their offering price about 23% higher than their upper limit of price band, except HD Hyundai Marine Solution and power management system developer Gridwiz Co.

The Korean IPO market attracted 209.75 trillion won ($151.9 billion) from retail investors in subscription deposits for the first six months of this year, more than 2.3 times the deposits from a year earlier, according to Seoul-based ML Investment Advisory Co.’s data on Thursday.

South Korea’s initial public offerings in the first half of this year were oversubscribed 1,610 times, the highest-ever rate for a half-year period led by individual investors eyeing significant returns on the stocks’ trading debuts.