South Korea IPO Market Posts Steepest H1 Decline in 6 Years; Duplicate Listing Rules Key to H2 Recovery

According to Shin Young Securities, South Korea's initial public offering (IPO) market posted its weakest first-half performance since 2020, with only 17 new listings and 1.1 trillion won in fundraising, down 55.3% and 48.7% year-over-year respectively. As of end-June, the average return from offer price stood at -14.1%, with 13 of the 17 companies trading below their initial price, averaging -37% loss, while the four outperformers gained an average of 61%. New duplicate listing guidelines restricting corporate affiliate listings emerged as a key variable for second-half recovery, with several large companies preparing to relist under the stricter criteria.
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