Employees of HD Hyundai Marine Solution Co., during the company's listing ceremony at the Korea Exchange in Seoul, South Korea, on Wednesday, May 8, 2024.
Shares of maintenance and repair firm HD Hyundai Marine Solution spiked nearly 50% in their trading debut Wednesday, marking a strong start to South Korea's largest IPO since January 2022.
Shares traded as high as 166,100 South Korean won ($121.59) apiece, representing a 99.1% surge from the IPO price of 83,400 won.
The ship-repair unit of South Korea's largest shipping conglomerate HD Hyundai Group sold 8.9 million shares in the initial public offering.
The IPO totaled 742.26 billion won, valuing the newly public unit around 3.71 trillion won at the offering price.
Organizations:
Korea Exchange, Hyundai, South Korean, Street, KKR
Locations:
Korea, Seoul, South Korea, South