Input 2021.03.18 15:15 | Revision 2021.03.18 15:26
Ahn Jae-yong, CEO of SK Bioscience, said in a reminiscent voice when attending a listing ceremony held at the Korea Exchange in Yeouido, Seoul on the morning of the 18th.
On this day, SK Biosciences entered the stock market by succeeding in the first day of listing, ‘Tasang (the upper limit price after the initial price was formed twice as much as the public offering price)’ in line with the name ‘the largest ever’. With a market capitalization of 12,928.5 billion won, it quickly climbed to 28th in the securities market. It is still far below the level of 100 trillion won, which CEO Ahn said, but it is 160% larger than the standard market capitalization (4,972.5 billion won) of the public offering price.
Securities industry officials say that this is “expected” and are optimistic about the future share price trend.
On that day, SK Bioscience held a ceremony to commemorate the new listing of the securities market from 8:40 am in the lobby of the new building of the Seoul office of the Korea Exchange.
Prior to the listing ceremony, SK Bioscience employees, exchanges, listing organizers and officials were excitedly seated in the lobby on the 1st floor of the Korea Exchange. In particular, executives and employees were wearing red masks with the white SK Bioscience logo. Red is the symbolic color of SK Group.
The listing ceremony was attended by Ahn Jae-yong, CEO of SK Bioscience, as well as Son Byeong-du, chairman of the Korea Exchange. In addition, Park Chan-joong, president of SK Discovery, Jung Il-moon, CEO of Korea Investment & Securities, Cho Woong-ki, Vice Chairman of Mirae Asset Daewoo, and Yoon Byung-un, CEO of NH Investment & Securities IB1 Division, watched SK Bioscience’s successful entry into the stock market.
At the ceremony for listing, CEO Ahn said, “In 10 years, SK Bioscience aims to achieve a corporate value of 100 trillion won.” We will become a global bio platform hub that we operate.”
Next, CEO Ahn said, “Thank you to each and every shareholder who participated in the future of SK Bioscience.” “As promised during the listing process, we will take the time to review the process at all times and carry out basic compliance (compliance monitoring) such as transparent accounting.” Said.
When the market opened at 9 a.m., a celebration burst with a countdown. Officials at the scene applauded all at once. Representative Ahn signed a commemorative signature for the listing with the phrase’for the promotion of human health up to prevention and treatment’, and the signature was posted on the electronic board.
◇ “Something I expected”… Care must be taken of the withdrawal of the protected Jesus quantity.
On this day, the starting price of SK Bioscience was decided between 8:30 am and 9:00 am. After receiving a quote at 90-200% of the offering price of 65,000 won, the initial price was set at 130,000 won, the sum of the bid and ask prices. This is a price equal to twice the offering price.
SK Bioscience’s share price went straight to its upper limit right after opening at 9 o’clock. It has succeeded in so-called’dasang’ by recording 169,000 won, which rose from the initial price to the price limit.
SK Biosciences previously received a public offering for general investors on the 9th to 10th, and it was estimated that about 64 trillion won came in from 2.4 million accounts. In order to receive a large amount of stocks, some investors opened accounts with all six of the host and underwriting brokerage firms, and started to make multiple subscriptions.
Earlier, securities industry officials generally had a positive outlook on the stock price after SK Bioscience was listed. Park Byung-ki, head of the corporate finance division, who oversees IPO in Hana Financial Investment, predicted the rise in SK Bioscience’s stock price, saying, “In the past, companies with higher institutional demand forecasts and higher competition rates for public offerings had better stock prices after listing.”
Stock market experts are predicting that SK Bioscience, which succeeded in’Tasang’ on the first day of listing, will continue a solid share price trend in the future.
Choi Jong-kyung, a researcher at Heungkuk Securities, said, “Even if there is some volatility at the beginning of the listing, in the end, the manufacturing and production competitiveness of the Corona 19 vaccine will become more and more prominent, and the stock price will rise right.”
There is also a prospect that stock prices will rise even more, as stocks are so small in circulation. Currently, the number of circulating stocks of SK Bioscience is 8.87 million, which is only 11.6% of the total 76.5 million stocks scheduled to be listed. This is because 1,076 million shares, or 85.26% of the 12.622,500 stocks held by institutional investors, are obligated to hold. This quantity can be sold on the market 1-6 months after listing.
Looking at the precedents of large fish who entered the stock market earlier, the share of stocks available for circulation immediately after SK Biopharm was listed was 13% of the total, while Kakao Games and Big Hit were at around 20%. Since SK Bioscience’s circulating volume is significantly smaller compared to those of these companies, it is easier to raise its share price.
Han Byeong-hwa, a researcher at Eugene Investment & Securities, predicted that “SK Biosciences will increase its share price from 16 trillion won to 25 trillion won based on the market capitalization because there is not much distribution in the initial period of listing.”
On the other hand, some of the securities industry also commented that it is not only possible to be optimistic about the direction of SK Bioscience’s share price when looking at the case of Big Hit.
Previously, Big Hit, which was listed on the securities market in October last year, recorded a prize on the first day of listing, but after about a month of falling stock prices, it fell to 141,000 won, which is 6000 won higher than the public offering price (135,000 won). They even left them in frustration.
An official in the securities industry said, “SK Bioscience has succeeded as expected on the first day of listing, but no one can guarantee what the stock price will be in the future.” “It’s true.”
Hwang Se-woon, a research fellow at the Capital Market Research Institute, said, “The application of protection deposits to the stocks held by the institution is a factor that will raise the stock price in the short term, but after the release of Jesus, the institution’s selling volume will temporarily increase, which may adversely affect the stock price “There is,” he said, “investors should keep this in mind.”