Internet portal has $2.5 billion IPO
Knowledge Plant Inc., the operator of the online portal empas.com, attracted 3 trillion won ($2.5 billion) when it took listings for its initial public offering on the Kosdaq market. the listings were taken for two days, starting on Tuesday. According to Hanwha Securities, the underwriter, there were nearly 550 bidders for each share. That competition was less than the average figure for initial public offerings by six firms on Kosdaq this month, it was the biggest money earner since Webzen, an online game developer, went public in May. Other Internet-related firms’ shares have rocketed upward after recent initial public offerings.
with the Korea JoongAng Daily
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