[Alpha Biz= Reporter Paul Lee] HD Hyundai Marine Solution recorded a surge of nearly double the IPO price on its first day of listing on the Korea Exchange.
The company closed at 163,900 won, up 96.52% from the IPO price of 83,400 won. Its market capitalization skyrocketed from 3.7071 trillion won to 7.285 trillion won. Trading volume for HD Hyundai Marine Solution reached 2.1 trillion won, accounting for 20% of the total trading volume on the Korea Exchange, which amounted to 10 trillion won that day.
Early in the trading session, the company experienced selling pressure from foreign investors. The total available shares for HD Hyundai Marine Solution are 4,546,273 shares (worth 379.1 billion won), representing 19.23% of the total shares outstanding. Among these, 43.05% (1,957,267 shares) of the shares available for sale on the listing day are held by foreign institutional investors.
Alphabiz Reporter Kim SangJin(hoondork1977@alphabiz.co.kr)
