‘Pre-IPO investment’, which buys public offerings off-the-shelf and sells them immediately after listing, attracted attention as a financial means that earns 10-20% of profit in a short period of time. This is because popular public offering stocks such as Big Hit Entertainment and Kakao Games surged immediately after listing and surpassed the over-the-counter price.
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, has been plummeting from the second day of listing.
On the 22nd, SK Bioscience ended at 144,000 won, down 13.51%. On the first day of listing (18th), it recorded’Daesang’ (double the initial price compared to the public offering price and then the upper limit), but it turned downward from the second day. It’s the exact opposite of the atmosphere that expected a’tasangsang’ (two days in a row).
Investors who bought SK Biosciences over the counter are estimated to be losing more than 20%. Immediately before listing, SK Biosciences traded for 190~200,000 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 used to be an IPO last year, is in half. The stock price, which rose to 217,000 won right 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 at a loss.
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 the out-of-market price of 60 to 70,000 won 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 prices.
Game maker Krafton’s share price has risen more than five times in one 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 capitalization is 21,649.8 billion won. It is larger than the market cap of NCsoft, the number one game listed company in Korea, of 20,461.1 billion won.
If you invest in high prices off-the-shelf, you may not be able to save the battle. Investors who recently purchased 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. As it is now, 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 current value.
Reporter Park Uimyung [email protected]
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