[Special Stock] SK Biopharm Drops Over 10% Early in Trading... Impact of Institutional Lock-up Release Volume

The SK Biopharm KOSPI listing ceremony is being held on the 2nd at the Korea Exchange in Yeouido, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Park Jihwan] On the 5th, SK Biopharm plunged more than 10% in the early session of the KOSPI market. This is interpreted as being due to 1.7 million shares held by institutional investors being released into the market.

As of 9:32 a.m. on the day, SK Biopharm was trading at 140,000 KRW, down 10.54% from the previous close. The sharp drop in the stock price is believed to be due to profit-taking sales of shares whose lock-up period has expired among the shares allocated to institutional investors during SK Biopharm's public offering.

According to the Korea Exchange, out of the total 13.2 million shares allocated to institutions during the public offering, 1,705,534 shares have completed the three-month lock-up period. These shares can be traded in the market starting from this day.

Previously, at the time of listing, 6.31 million shares out of the 13.2 million allocated shares were immediately released into the market. The remaining 6.9 million shares are subject to a lock-up period ranging from as short as 15 days to as long as six months from the listing date.

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