Korea¡¯s IPO calendar ends for 2020 at record $272 bn, tripling past two years

The pandemic-ridden 2020 has been a record bumper year for Korean initial public offerings (IPO).

With the last nano materials producer Sukgyung AT joining the market last Wednesday, a total of 76 went public on Korean bourses this year. They pulled in a combined 295.5 trillion won ($272.2 billion) in deposits, three times higher than 2018 and 2019 that had drawn less than 100 trillion won each for 76 and 78 companies that went public in the respective year.

This year¡¯s IPO investments overwhelm the combined 291 trillion won market cap of six biggest stocks excepting biggest Samsung Electronics and are equivalent to more than half of the country¡¯s record budget of 558 trillion won for 2021.

Twelve were blockbusters that drew funds of more than 5 trillion won, whereas there was just one in both 2018 and 2019.

Kakao Games, the game publishing unit of the nation¡¯s top mobile messenger app operator Kakao, attracted 58.5 trillion won for its IPO, and Big Hit Entertainment, a label behind K-pop sensation BTS, drew 58.4 trillion won. Subscription deposits for SK Biopharmaceuticals amounted to 30.9 trillion won.

All of the three companies made top three ranks in the history of IPO in the country, breaking the previous record high IPO subscription of 30 trillion won for now defunct Cheil Indistries when it made its debut in December 2014.

[¨Ï Maeil Business Newspaper & mk.co.kr, All rights reserved]