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Photo = Korea Exchange |
[Alpha Biz= Kim Jisun] Three companies that recently debuted on South Korea’s Korea Exchange this month have shown weaker-than-expected stock performance after listing. Even K-Bank, which was considered a major IPO on the KOSPI, is now trading below its initial public offering price.
According to exchange data on March 13, K-Bank closed at 7,110 won, down 2.07% from the previous session and 14.34% below its IPO price. The stock posted only a modest 0.36% gain on its debut day and has declined in five of the seven trading days since listing.
Two KOSDAQ newcomers—S Team and Axvis—also struggled to sustain their early momentum. Both stocks surged 300% on their first trading day, achieving the so-called “ttattable” milestone (four times the IPO price), but later gave up a large portion of those gains.
S Team closed at 17,050 won, down 10.92%, marking a 48.85% drop from its first-day closing price in just five trading sessions. Axvis has also fallen 31.2% from its debut-day close, though it still trades above its IPO price.
Analysts attribute the weak performance of newly listed stocks to increased market volatility driven by Middle East geopolitical tensions, combined with profit-taking by short-term investors.
Over the past six months, six of the 51 companies that listed on the KOSPI and KOSDAQ achieved a “ttattable” on their first trading day. However, only two—RGenomics and AimedBio—were trading higher one week later.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
