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Vaccine producer SK Bioscience makes strong stock market debut

Science 09:24 March 18, 2021

By Chung Joo-won

SEOUL, March 18 (Yonhap) -- South Korean vaccine maker SK Bioscience Co. made a splash in its debut on the main bourse Thursday, trading at more than two times its initial public offering (IPO) price.

Instantly after the opening bell, its stock price soared to the daily permissible ceiling of 169,000 won (US$149.43), up 30 percent from its opening price and sharply up from the IPO price of 65,000 won.

The price hike raised the company's market capitalization to 12.93 trillion won, up from 4.9 trillion won, emerging the 29th most valued company on the main bourse.

SK Bioscience, which produces the AstraZeneca vaccine at its plant in South Korea, emerged as the most anticipated pick on this year's IPO list.

Last week, SK Bioscience drew a record 64 trillion won in investor deposits during a two-day subscription period for its share sale.

The figure surpassed the two previous records set last year -- 58.6 trillion won for gaming company Kakao Games and 58.4 trillion won for K-pop agency Big Hit Entertainment.

This undated photo provided by SK Bioscience Co. shows its vaccine manufacturing plant in Andong, 270 kilometers southeast of Seoul. (PHOTO NOT FOR SALE) (Yonhap)

jwc@yna.co.kr
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