Hyundai Heavy Industries takes top market cap position among shipbuilders

Hyundai Heavy Industries takes top market cap position among shipbuilders

Hyundai Heavy Industries’ promotional image from its website / Courtesy of Hyundai Heavy Industries

By Anna J. Park

The debut of Hyundai Heavy Industries (HHI) on the KOSPI was quite a roller coaster ride. The initial price of the newly offered shares was put at 111,000 won ($94.32) at the beginning of the trading session, 85 percent higher than the stock allotment offering price of 60,000 won.

After trading started at this valuation at 9 a.m., the price nosedived to 91,000 won, an 18 percent fall, after just six minutes.

However, it then soared to 135,000 won, up 21.6 percent, during the next thirty minutes; but in the following five minutes, the price fell again to 114,000 won. The price’s ups and downs continued during the session, until it closed at 111,500 won, a 0.45 percent increase from its opening.

At this closing price, the shipbuilder’s market capitalization stood at 9.98 trillion won, the 43rd highest among KOSPI listed companies, but the largest in the shipbuilding industry, exceeding Korea Shipbuilding & Offshore Engineering’s (KSOE) 7.4 trillion won, Samsung Heavy Industries’ 3.8 trillion won, and Daewoo Shipbuilding & Marine Engineering’s (DSME) 3 trillion won.

KSOE is the parent company of HHI.

Founded in 1972, HHI became the global leader in shipbuilding in 1985, and has maintained the top position since in terms of the amount of orders received. The company logged annual revenue of 8.3 trillion won last year with an operating profit of 32.5 billion won. The company was spun off from KSOE in 2019.

Foreign investors net sold 1.7 million shares, while retail and local institutional investors net purchased the stock Friday. As only 1.2 percent of shares held by foreign institutional investors are locked up, market watchers are expressing concerns of a possible “hangover” due to the millions of shares held onto by foreign investors.

HHI logged a subscription competition rate of 1,835.87:1 among institutional investors early in the month, the second highest ever among companies listing on the KOSPI, following SK IET at 1,883:1. Retail investors’ stock allotment competition rate was 405.5:1, attracting 56 trillion won.

The company is planning to invest the raised IPO capital into eco-friendly technology development and next generation ships.

Internet Explorer Channel Network
News Related


Jeju shamanistic ritual to be designated as intangible cultural heritage

Jeju Keungut / Courtesy of Cultural Heritage Administration By Park Ji-won Jeju’s biggest shamanistic ritual for wellbeing will be designated as national intangible cultural heritage, according to the Cultural Heritage ... Read more »

‘End-of-war declaration can show there is no hostile policy against Pyongyang:' Seoul's nuclear envoy

South Korea`s chief nuclear envoy, Noh Kyu-duk, speaks during a forum organized by the Institute for National Security Strategy in Seoul on Monday. (Yonhap)A declaration to formally end the Korean ... Read more »

Arrest warrant sought for prosecutor linked to opposition's political meddling scandal

Son Jun-sung, a high-ranking prosecutor, arrives to work at the High Prosecutors Office in the southeastern city of Daegu on Sept. 16, 2021. Son has faced allegations he requested the ... Read more »

Gyeonggi gov. begins presidential race in earnest as pressure grows

Presidential candidate Lee Jae-myung holds a news conference at the provincial government office in Suwon on Oct. 25 to announce his resignation from the gubernatorial post in order to start ... Read more »

Military loosens rule on haircut amid discrimination concerns

Soldiers on leave. (Yonhap)The military said Monday that it would ease regulations on conscripts’ hair length, and introduce same standards for both officers and troops, amid calls for change on ... Read more »

Korea to start 'Living with COVID-19' scheme on Nov. 1

gettyimagesbank South Korea will gradually phase out coronavirus restrictions starting next month to embrace a new scheme of returning to normal life backed by the rising rate of vaccinations, health ... Read more »

USFK reports 9 additional COVID-19 cases

A military guard at US Army Garrison Humphreys in Pyeongtaek, 70 kilometers south of Seoul, checks the temperature of a driver to screen entrants to the compound for the novel ... Read more »

Celebrating Dokdo Day

NongHyup Bank CEO Kwon Jun-hak promotes the “NH Dokdoverse” metaverse platform at the bank’s headquarters in Seoul, Monday, in celebration of the annual Oct. 25 Dokdo Day. The bank will ... Read more »

Prosecutors expected to seek arrest warrants for 2 key figures in Seongnam development scandal

This composite file photo shows Kim Man-bae, Nam Wook and Yoo Dong-gyu (from L to R), key suspects in a growing scandal surrounding a highly lucrative land development project in ... Read more »

MC Interview | 'India may witness huge inflows in coming time and surprise the world market'

Ankit Yadav, Wealth Manager (USA) and Director of Market Maestroo, thinks consumer stocks look very attractive and can create wealth in the long run. “If I have to compound my money for the ... Read more »

Bears back after historic high. Top 10 trading ideas by experts for next 3-4 weeks

Bears stalled the bull run that had taken the stock markets to record high levels, after which the benchmark indices declined over four consecutive sessions, resulting in a 1.2 percent ... Read more »

Coforge share price drops 8%, despite 18% rise in Q2 net profit

Coforge share price fell 8.5 percent intraday on October 25 despite company clocking better numbers in the quarter ended September 2021. Coforge has posted an 18.7 percent jump in its Q2 net ... Read more »

Gold Prices Today: Bullish trend likely to sustain with further rally on the cards

Gold prices held steady on October 25 after cutting gains in the prior session on US Federal Reserve chief Jerome Powell’s comment that inflation could ease next year and the ... Read more »

Citibank Korea announces plan to close retail banking services

Citibank Korea headquarters in Seoul / Yonhap Citibank Korea Inc., the Korean unit of U.S. banking giant Citigroup, said Monday it will close its retail banking services “in phases” after ... Read more »

Daily Voice | There's strong base to support sustained growth, says Deepak Jasani of HDFC Securities

A strong political leadership, an unrelenting reform process, and a host of cost-cutting exercises taken up by corporates- all these have created a base for robust growth over the next few quarters, provided we do ... Read more »

Hot Stocks | Here is why you should sell Titan Company and United Breweries

Last week started with a decent bump up which was then followed by yet another gap-up on October 19 to reach new millstone of 18,600. However, the high beta midcap counters ... Read more »

Military reports 7 additional COVID-19 cases

(Yonhap)South Korea’s military reported seven additional COVID-19 cases Monday, bringing the total caseload among its personnel to 2,011, the defense ministry said. Four Navy officers and two draftees, as well ... Read more »

Former US ambassador Gregg calls for 'dynamic' steps toward N. Korea diplomacy

Donald Gregg, a former US ambassador to South Korea and Central Intelligence Agency director, speaks during an interview with Yonhap News Agency at his home in Armonk, New York, on ... Read more »

COVID-19 infection rates continue to trend downward

A woman skateboards on a shopping street amid tightened social distancing rules due to the coronavirus disease (COVID-19) pandemic in Seoul, July 12. Reuters-Yonhap South Korea reported 1,190 new cases ... Read more »

Asian shares steady, dollar weak

Asian shares have started steady before a week packed with major quarterly earnings announcements, while the dollar hovered near October lows after three weeks of risk-friendly sentiment hurt safe-haven currencies. ... Read more »

N. Korea touts 'invincible' ties with China on Korean War anniversary

Flags of China and North Korea (123rf)North Korea and China will continue their “invincible” friendly relations for a “common cause,” the North’s official newspaper said Monday, marking the 71st anniversary ... Read more »

Military identifies remains of four Korean War soldiers

This photo shows belongings of SSgt. Song Dal-seon, who died during a battle in the 1950-53 Korean War. His remains were recovered in 2011. (Ministry of National Defense)The military has ... Read more »

BTS' first online concert in a year delivers message of hope amid pandemic

BTS performs during an online concert livestreamed from Seoul, Oct. 24. Courtesy of Big Hit Music K-pop supergroup BTS delivered a message of hope to its global fans Sunday during ... Read more »

LG's flexible displays to be featured at London art exhibition

LG’s OLED display panels used to create flower-like works of art displayed on the ceiling at “180 The Strand” art gallery in London. The exhibition running through Dec. 18 presents ... Read more »

Korea's COVID-19 vaccination rate ranks 10th among OECD countries

A person receives a coronavirus vaccine at a vaccination center in Gwanak District, Seoul, Saturday. Yonhap By Lee Hyo-jin The percentage of people fully vaccinated against COVID-19 here, which topped ... Read more »

Ex-Constitutional court judge joins Yoon & Yang

Ahn Chang-ho By Lee Kyung-min Former Constitutional Court Justice Ahn Chang-ho has joined the law firm, Yoon & Yang, the firm said Monday. Ahn, a former prosecutor with 27 years ... Read more »

Man left brain-dead after vaccination donates organs

gettyimagesbank By Jun Ji-hye A 57-year-old man, who was declared brain-dead after collapsing around two weeks following being inoculated with Johnson & Johnson single-dose COVID-19 vaccine, donated organs to four ... Read more »

Comms stocks drag down Nasdaq, S&P

The S&P 500 and Nasdaq have closed lower as disappointing quarterly reports from Snap Inc and Intel Corp put pressure on the communications and technology sectors and investors turned skittish ... Read more »

Media reports of N. Korean leader's sister staging coup not true at all: spy agency

North Korean leader`s sister Kim Yo-jong (Yonhap)South Korea’s spy agency said Sunday media reports of North Korean leader’s sister succeeding coup against her brother are not true at all. The ... Read more »

US, South Korea discuss ways to resume talks

Noh Kyu-duk (left) and Sung Kim, South Korean and US nuclear envoys. (Yonhap)The US will explore possibilities surrounding declaring a formal end to the Korean War with South Korea, with ... Read more »

Korean movie industry mogul Lee dies

Movie producer Lee Tae-won / Yonhap Lee Tae-won, a renowned South Korean movie producer, died Sunday after his health waned following an accidental fall last year, according to his aides. ... Read more »

Compact SUVs gaining ground in Korea

Kia’s Sportage SUV / Courtesy of Hyundai Motor Group By Baek Byung-yeul C-segment or compact sport utility vehicles are gaining ground in Korea’s automobile market as their dimensions have grown ... Read more »

'Let's step up to save our Earth,' says BLACKPINK

K-pop girl group BLACKPINK delivers a speech during Google’s “Dear Earth” event, which took place Saturday (U.S. time.) Courtesy of YG Entertainment By Dong Sun-hwa The members of K-pop girl ... Read more »

Shinhan prompts KB, Hana to consider quarterly dividends

gettyimagesbank By Park Jae-hyuk KB and Hana financial groups started considering paying quarterly dividends to their shareholders, in an apparent attempt to prevent an exodus of investors to Shinhan Financial ... Read more »

Jeon Jong-seo, Son Suk-ku star in rom-com 'Nothing Serious'

By Kwak Yeon-soo Poster for the film, “Nothing Serious” / Courtesy of CJ ENM After playing indelible characters, ranging from a vulnerable yet outwardly confident girl in “Burning” to a ... Read more »

Gov't urged to improve COVID-19 home treatment system after patient's death

An ambulance transfers a COVID-19 patient to a hospital in Eunpyeong District of Seoul in this photo taken in December 2020. Yonhap By Lee Hyo-jin The government is being urged ... Read more »

[INTERVIEW] Snapchat aims to improve its presence in Korea

A Google Pixel 6 phone user uses Snap’s photo messaging app, Snapchat. Courtesy of Snap By Baek Byung-yeul Nana Murugesan, managing director of international markets at Snap / Courtesy of ... Read more »

All eyes on Samsung heir's next move on late chairman's death anniv.

Samsung Vice Chairman Lee Jae-yong enters the Seoul Central District Court for a hearing on illegal use of surgical anesthetic propofol on Oct. 12. Korea Times photo by Ko Young-kwon ... Read more »

Woori Financial upgrades joint cloud platform to accelerate digital transformation

The signs of Woori Financial Group and Woori Bank outside of the headquarters of Woori Financial Group in central Seoul / Courtesy of Woori Financial Group By Anna J. Park ... Read more »

Citi inclined to shut Korea's retail banking without sell-off

Citibank Korea’s main branch in Seoul is seen in this April file photo. Yonhap Details about divestment to be announced Monday By Park Jae-hyuk Citibank Korea’s management informed its board ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic