"First Day of Listing Soared"… Kyochon F&B Closes at 152% Above IPO Price Limit
[Asia Economy Reporter Oh Ju-yeon] Kyochon F&B, famous for 'Kyochon Chicken,' closed at the upper price limit on its first day listed on the KOSPI on the 12th.
On that day, Kyochon F&B closed at 31,000 KRW, up to the price limit (29.98%) from the opening price of 23,850 KRW on the Korea Exchange. This is a 152.03% increase compared to the public offering price of 12,300 KRW.
Kyochon F&B's daily trading volume was 810.2 billion KRW, ranking second on the KOSPI after Samsung Electronics, excluding exchange-traded funds (ETFs).
Established in 1991, Kyochon F&B is the top company in sales in the chicken franchise industry and is the first dining franchise to be directly listed on the KOSPI.
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Before the listing, the institutional demand forecast competition rate was 999.44 to 1, setting the public offering price at the upper end of the desired range. The general subscription competition rate also recorded a high level of 1318.29 to 1.
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