SK Biopharm, Market Cap Already 13 Trillion Won... Surpasses KEPCO to Rank 21st

[Asia Economy Reporter Koh Hyung-kwang] SK Biopharm's market capitalization surged to 13 trillion won as its stock price hit the daily limit for two consecutive days after its listing. It surpassed Korea Electric Power Corporation's market cap and is only about 90 billion won behind Kia Motors.

According to the Korea Exchange on the 4th, SK Biopharm's stock price rose 29.9% from the previous day's closing price of 127,000 won to 165,000 won at the opening of the KOSPI market and maintained that level until the market closed. Following a 29.59% surge at the opening on the first day of listing, it recorded the daily upper limit price for two consecutive days. The daily maximum price fluctuation for KOSPI-listed stocks is 30%. Since the price fluctuation limit was increased from 15% to 30% in June 2015, SK Biopharm is the only stock to have hit the daily upper limit for two consecutive days after listing.

Many investors want to buy SK Biopharm shares, but current holders are not selling, expecting the price to rise further. The buy orders, which exceeded 20 million shares the previous day, still approached 10 million shares on this day. Buy orders refer to the volume investors want to purchase but have not been executed. This means investors waiting in line to buy SK Biopharm had prepared about 1.6 trillion won but could not purchase the shares.

The market capitalization, which was close to 10 trillion won on the 2nd, increased to 12.9217 trillion won. Its market cap ranking rose from 27th to 21st, surpassing Korea Electric Power Corporation (12.4541 trillion won). The gap with 20th-ranked Kia Motors is only about 90 billion won.

Some in the securities industry warn that investors should be cautious as SK Biopharm's stock price surged sharply in a short period. Domestic securities firms have set SK Biopharm's target price between 100,000 and 110,000 won, but the stock price has already exceeded this range due to the rapid rise over two days. A Japanese securities firm even lowered SK Biopharm's target price to the 80,000 won range.

This content was produced with the assistance of AI translation services.