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The’pre-IPO (public public offering) investment’, which buys public offering stocks off-the-shelf and sells them immediately after listing, attracted attention as a financial means that earns 10-20% profit in a short period. Big Hit(230,000 +1.77%)Entertainment, Kakao Games(53,500 -0.19%) This is because popular public offering stocks surged immediately after listing and surpassed over-the-counter prices.
However, as this formula is broken, the loss of’out-of-the-box ants’ is increasing. SK Bioscience, which was expected to surge after listing(144,000 -13.51%)Has been plummeting since the second day of listing.
On the 22nd, SK Bioscience ended at 144,000 won, down 13.51%. On the first day of listing (on the 18th), it recorded a’dasang’ (double the initial price compared to the public offering price and then the upper limit), but it turned downward from the second day. It is the exact opposite of the atmosphere that was expected to be’tasangsang’ (the upper limit for two days in a row).
Investors who bought SK Bioscience over-the-counter are estimated to be losing more than 20%. Immediately before listing, SK Biosciences traded for 190,000 to 200,000 won over the counter. Immediately after listing, SK Bioscience’s highest price is 160,500 won, and intraday high is 190,000 won.
SK Biopharm, which was last year’s’IPO big fish’(105,000 -1.87%)Was cut in half. The stock price, which rose to 217,000 won immediately after listing, reached 105,000 won on the same day. Compared to the intraday peak (260,500 won), it is one-third. Most investors who bought SK Biopharm after listing are also in the loss range.
Kakao Games, which recorded a’tasangsang’, is also not recovering its share price. Kakao Games closed the transaction at 53,500 won on the 22nd. Compared to the 80,100 won, the highest price after listing (September 14), the stock price fell by more than 30%. It is less than 60,000~70,000 won, the over-the-counter price just before listing.
There are many experts citing overheating of OTC stocks as the cause of the plunge in new stocks. This means that public offerings should not be approached based on over-the-counter prices. SK Bioscience, SK Biopharm, and Kakao Games, which are on a downtrend, declined after listing, but are still higher than their offering price.
Kakao Bank, Krafton, and Yanolja, which are about to be listed this year, are also not free from controversy over high evaluation. According to Unlisted Securities Plus, Kakao Bank’s estimated market capitalization is 31,593.1 billion won. KB Finance, a major commercial bank(51,400 +3.52%)It exceeds the market cap of (21,372.5 billion won) and Shinhan Holdings (18,3909 billion won).
Game maker Krafton’s share price has risen more than five times in a year. On the 22nd, the stock price recorded 2.35 million won. In February of last year, the over-the-counter price was around 400,000 won. The current market cap is 21,649.8 billion won. NCsoft, the number one game listed company in Korea(932,000 -0.11%)It is larger than the market capitalization of 20 trillion won
If you invest in high prices off-the-shelf, you may not be able to save the battle. Investors who recently bought SK Bioscience over-the-counter are representative examples. If the over-the-counter price surges, there is a risk that the public offering price will be inflated. The stock price may not surge immediately after listing.
It is unclear whether the super boom in the public offering market will continue thanks to ultra-low interest rates and liquidity. This means that there is a possibility that stocks purchased over-the-counter will not be recognized for their present value.
Reporter Park Uimyung [email protected]
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