SEOUL, Feb. 18 (Xinhua) — South Korea’s initial public offering (IPO) posted a double-digit growth last year due to a handful of big companies going public, financial watchdog data showed Thursday.
The IPO reached 4.5 trillion won (4.1 billion U.S. dollars) in 2020, up 40.6 percent from the previous year, according to the Financial Supervisory Service (FSS).
The number of IPOs declined from 73 in 2019 to 70 in 2020, but the value of going public grew in double figures owing to the listing of big names such as Big Hit Entertainment and SK Biopharm.
The average competition rate for IPOs among retail investors was 956 to 1 last year, almost doubling compared to the previous year.
It was attributed to ample liquidity, caused by the record-low policy rate. The country’s central bank has left its key rate unchanged at an all-time low of 0.50 percent since May last year. Enditem