[Featured Stock] Kyochon F&B Continues Strong Performance on Second Day of KOSPI Listing

[Asia Economy Reporter Koo Eun-mo] Kyochon F&B continues its strong performance on the second day following a limit-up on its first day of listing.

As of 9:33 a.m. on the 13th, Kyochon F&B was trading at 37,600 KRW, up 21.29% (6,600 KRW) compared to the previous trading day.

On the previous day, Kyochon F&B's stock closed at 31,000 KRW, reaching the price limit increase of 29.98% from the opening price of 23,850 KRW. This price is 2.5 times (152.03%) the initial public offering price of 12,300 KRW. Individual investors led the rise on the first day of listing, with net purchases worth 73.9 billion KRW, ranking second in net buying on the KOSPI. The daily trading volume was also 810.2 billion KRW, ranking second on the KOSPI after Samsung Electronics (1.0686 trillion KRW), excluding exchange-traded funds (ETFs).

Founded in 1991, Kyochon F&B had 1,234 offline franchise stores as of the end of August, holding about an 11% market share based on combined franchise sales, making it the number one chicken franchise company in South Korea. It is the first food service franchise to be directly listed on the KOSPI.

Prior to listing, the institutional demand forecast ratio was 999.44 to 1, setting the IPO price at the upper end of the expected range. The general subscription competition ratio was also high at 1,318.29 to 1.

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