13.5% on the 3rd day of listing ↓…
Daily selling by foreigners and institutions in individual purchase
“Learning effect of falling after upper limit such as Kagam”
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After listing, SK Bioscience, which succeeded in’tasang’ (the first day of listing after the initial price was decided at twice the public offering price), is on the decline day after day. On the third day of listing, SK Bioscience plunged more than 20% from its peak as investors who learned the stock price trend of SK Biopharm and Kakao Games continued to sell.
On the 22nd, in the securities market, SK Bioscience finished trading at 144,000 won, down 13.51% (22,500 won) from the previous day. SK Bioscience, which has been selected as an IPO in the first half of this year, received great attention in forecasting demand for institutional investors and general subscription, but expectations disappeared after 3 days of listing. On the first day of listing, SK Biosciences jumped to 169,000 won and succeeded in’Daesang’. With a market capitalization of KRW 12.900 trillion, it ranked 28th on the KOSPI.
However, from the second day of listing, SK Bioscience turned to a downtrend. Foreigners sold 161.5 billion won worth of money in 3 days, and institutional investors sold 44.7 billion won worth of profits. Individual investors bought stocks worth KRW 244.6 billion for three consecutive days, but they did not prevent the stock price from falling. The market capitalization decreased to 11 trillion and 16 billion won. Compared to the high price on the first day of listing, the decline rate reached 24.7% in three days.
SK Bioscience’s subscription is distributed evenly, so there are significantly more minority shareholders compared to other public offerings. They are playing a’notice game’ by looking at the selling point. Even if the stock price has recently dropped, it is higher than the public offering price (65,000 won), which generates profits when sold. In particular, since SK Biopharm and Kakao Games have recorded an upper limit for two to three consecutive trading days after listing, the stock price has plummeted due to profit-taking, which means that the sale is continuing. An official at a securities company said, “While the valuation level of newly listed companies increases at the time of IPO, the expected rate of return will inevitably drop immediately after listing.”
/ Reporter Park Si-jin [email protected]
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