Hyundai Heavy Industries make a volatile debut, swinging 33% on first day

Pulse 입력 2021. 9. 17. 12:54 수정 2021. 9. 17. 16:42
글자크기 설정 파란원을 좌우로 움직이시면 글자크기가 변경 됩니다.

이 글자크기로 변경됩니다.

(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.

Hyundai Heavy Industries Co. made a volatile debut Friday, opening at double the initial price of 60,000 won ($50.96) and swinging 33 percent on the first day of trading at Kospi.

The shares were trading 7.66 percent higher at 119,500 won after swaying from 91,000 won to 135,000 won. The stock closed the day at 111,500 won.

Hyundai Heavy Industries’ market capitalization reached at 9.9 trillion won, surpassing that of its parent Korea Shipbuilding & Offshore Engineering (KSOE) worth 7.49 trillion won. Trade turnover reached 1.94 trillion won to make the heaviest trade on the day on both Kospi and Kosdaq as domestic players went after the initial shares dumped by foreign investors.

Meritz Securities presented its stock price target for the company at 110,000 with its investment opinion of “Buy.”

“When reflecting positive outlook for the shipbuilding industry by 2023, Hyundai Heavy Industries can expect to draw orders of 1.5 times higher than its capacity,” said Kim Hyun, an analyst at Meritz Securities.

The IPO price of the country’s biggest shipbuilder was set at 60,000 won apiece, the highest end of its desired range. The book-building was oversubscribed by 1,836.1 times, the second most competitive in Korea’s IPO history after SK IET.

Domestic institutions received 35.6 percent or 6,408,700 shares and foreign institutions 19.4 percent or 3,491,000 shares. About 60.3 percent of the holdings are subject to lock-up obligation, most of which are held by domestic institutions.

[ⓒ Maeil Business Newspaper &, All rights reserved]

Copyright© 매일경제 & 무단 전재, 재배포 및 AI학습 이용 금지

이 기사에 대해 어떻게 생각하시나요?