Hyundai Hyms stock surges 300% from IPO price on first trading day

2024.01.26 12:15:02 | 2024.01.26 15:56:56

[Courtesy of Korea Exchange]이미지 확대

[Courtesy of Korea Exchange]

Shares of Hyundai Hyms Co., a South Korean shipbuilding machinery company, quadrupled from the initial public offering (IPO) price on Friday, making a robust debut on the first day of trading on the Kosdaq market.

Shares of Hyundai Hyms were trading 300 percent higher at 29,200 won ($21.8) as of 9:50 a.m. on Friday. The offering price was set at 7,300 won.

On Wednesday, shares of Woojin Engineering & Technology Inc. (Woojin Ntec) also registered a fourfold increase from the offering price, witnessing a strong debut.

Founded in 2008, Hyundai Hyms specializes in manufacturing essential block components crucial for shipbuilding. The company supplies components to various shipbuilders, including HD Hyundai Heavy Industries Co.

By Pulse

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