SK Bioscience shares hit ceiling in first two minutes of trading

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SK Bioscience shares hit ceiling in first two minutes of trading

 Retail investors wait at NH Investment & Securities’ headquarters in Yeouido, western Seoul, last week, to place orders for shares in the public offering of SK Bioscience. [SK BIOSCIENCE]

Retail investors wait at NH Investment & Securities’ headquarters in Yeouido, western Seoul, last week, to place orders for shares in the public offering of SK Bioscience. [SK BIOSCIENCE]

SK Bioscience started trading on the local stock market Thursday with a starting price of 130,000 won ($116), double the subscription price of 65,000 won.

 
A starting price is set at between 90 percent and 200 percent of a company's public subscription price based on bid and ask prices before the market's opening on the first day of trading.
 
SK Bioscience's starting price was what brokerages expected.
 
As of 9:02 a.m. the company's shares reached the gain ceiling of 30 percent, or 169,000 won, raising the company's market capitalization to 12.9 trillion won.
 
The Covid-19 vaccine maker started trading as one of the stocks that makes up the main Kospi index.
 
 
BY KIM JEE-HEE [kim.jeehee@joongang.co.kr]
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