Hyundai Heavy Industries makes strong market debut, up 85% from IPO price
Updated: 2021-09-17 13:40:51 KST
One of the world's biggest shipbuilder, Hyundai Heavy Industries… made a strong debut on the Korean stock market today, closing about 85 percent higher than its IPO price.
Shares of HHI closed at 111,500-won, or about 94 U.S. dollars.
At one point they were up 125 percent from the IPO price.
It was a somewhat volatile session, though, the price plunging, then recovering in the first hour of trading.
The company now has a market cap of nine.eight trillion won or about 8-and-a-half billion U.S. dollars.
Hyundai Heavy, or HHI, was listed on the KOSPI until 2019 when it changed its name and then split into a holding firm and the current HHI, which operates the shipbuilding business.