[Featured Stock] Hyundai Heavy Industries Drops Sharply on First Trading Day, Then Rises 11%

[Asia Economy Reporter Minji Lee] Hyundai Heavy Industries is maintaining an upward trend of over 11% on its first day of listing.

At 9:27 a.m. on the 17th, Hyundai Heavy Industries was trading at 123,500 KRW, up 11.26% from the opening price. Hyundai Heavy Industries, which was listed that day, started at 111,000 KRW, 85% higher than the public offering price (60,000 KRW), then fell more than 10% before showing an upward trend again. The current market capitalization is around 11 trillion KRW.

Earlier, Hyundai Heavy Industries received a positive signal for its listing by recording a competition rate of 1,836 to 1 in demand forecasting conducted for domestic and overseas institutional investors. This is the second highest in the history of the KOSPI market, following SK IE Technology (SKIET, 1,883 to 1).

Choi Jin-myung, a researcher at NH Investment & Securities, analyzed, “Hyundai Heavy Industries holds an overwhelming market share in high value-added ships including LNG carriers, and differentiates itself from competitors by producing and selling key equipment such as ship engines in-house,” adding, “With new environmental regulations starting to be introduced from 2023, interest in eco-friendly ships is expected to increase, and Hyundai Heavy Industries is the absolute leader in this field.”

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