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Past underwriting follies, stock prices mixed after listing
As Kakao Games started a craze to absorb the largest margin from the public share offering that ended on Day 2, the focus is on what will happen to the actual share price going forward.
Before Kakao Games, there were many stocks that got a lot of attention as a result of the subscription craze at the time, but there was a huge deviation in the current rate of return for each stock.
According to the securities industry on Day 3, Samsung Biologics is the stock with the highest rate of return compared to the public offering price among the ten stocks that received the highest margin, including Kakao Games.
Samsung Biologics’ public offering price, which was listed in the ‘Ring’ in November 2016, was 136,000, and the closing price as of the last second was 770,000 won.
Although it has been listed for less than four years, the yield reaches 466%.
Specifically, two years ago, the transaction was suspended on suspicion of ‘intentional fraudulent accounting’, but it has overcome this and is looking for the best rate of return.
SK Biopharm, which went public in July, has the highest short-term growth rate.
Currently, SK Biopharm’s share price is 3.7 times the public offering price.
SK Biopharm’s public offering surpassed 200,000 won in just 3 days from 49,000 won.
Since then, the share price has decreased slightly, but it still shows a high rate of increase.
On the other hand, cosmetics brands Tony Moly and Jeju Air, which were very popular at the time of their listing in 2015, received poor ratings with a margin of more than 7 trillion won.
Even considering the fact that China’s Han Han-ryeong (限 韓 令) and the new coronavirus infection (Corona 19) were hit directly, it did not reach the public offering price even considering the fact that each received a subsidy and an increase paid after the listing.
The share price of Netmarble, a big game maker like Kakao Games, is also below expectations.
Netmarble was listed in May 2017, but 3+ year stock prices are only increasing by 10% from the public offering price of 157,000 won.
In the case of Samsung Life, the performance is the lowest.
With great expectations 10 years ago, Samsung Life traded at a public offering price of 110,000 won.
However, 10 years later, the share price fell back to just 64,000 won.
The 10-year yield is -41.7%.
Kakao Games is also generating high expectations, but we cannot guarantee the future price of the shares.
On the 2nd, on the OTC market, Kakao Games was trading at 70,000 won, but the securities industry predicts that Kakao Games’ stock price will go from 28,000 won to 33,000 won.
[표] Top 10 IPO Overall Underwriting Margin Stocks of All Time┌──┬────────┬────┬────┬────┬─────┬────┐
│Ranking│ Item name │ Public offering price │ Margin │ Current price │ Trading date │ Growth rate │
├──┼────────┼────┼────┼────┼─────┼────┤
│ 1 │ Kakao Games │ 24,000│ 58,554│? │ 09-20-10│? │
├──┼────────┼────┼────┼────┼─────┼────┤
│ 2 │ SK Biopharm │ 49,000│ 30,989│ 181,500│ 07-20-02│ 270.4│
├──┼────────┼────┼────┼────┼─────┼────┤
│ 3 │ Cheil Industries │ 53,000│ 30,064│ 108,500│ 12-14-18│-│
├──┼────────┼────┼────┼────┼─────┼────┤
│ 4 │ Samsung Life Insurance │ 110,000│ 19,844│ 64,100│ 05-10-12│ -41.7│
├──┼────────┼────┼────┼────┼─────┼────┤
│ 5 │ Samsung SDS │ 190,000│ 15,552│ 161,500│ 14-11-14│ -15.0│
├──┼────────┼────┼────┼────┼─────┼────┤
│ 6 │ KT&G │ 28,000│ 11,574│ 84,700│ 99-10-08│ – │
├──┼────────┼────┼────┼────┼─────┼────┤
│ 7 │Samsung Biologics│ 136,000│ 10,198│ 770,000│ 11-16-10│ 466.2│
├──┼────────┼────┼────┼────┼─────┼────┤
│ 8 │ Netmarble │ 157,000│ 7,765│ 173,000│ 05-17-12│ 10.2│
├──┼────────┼────┼────┼────┼─────┼────┤
│ 9 │ TONY MOLY │ 32,000│ 7,577│ 10,000│ 07-15-10│-│
├──┼────────┼────┼────┼────┼─────┼────┤
│ 10 │ Jeju Air │ 49,500│ 7,399│ 12,950│ 11-15-06│-│
└──┴────────┴────┴────┴────┴─────┴────┘
※ Margin unit: billions of KRW
※ Cheil Industries, KT&G, Tony Moly, and Jeju Air just merge and pay each other, and they can’t be compared.
/ yunhap news
