[Asia Economy Reporter Hwang Yoon-joo] SK Biopharm, which made history in the domestic initial public offering (IPO) market by raising a subscription deposit of 31 trillion won, the largest ever, will be specially included in the KOSPI 200 index next month.
The Korea Exchange announced on its website on the 7th that SK Biopharm is scheduled to be included in the KOSPI 200 index components on September 11.
Along with this, Korea Steel, a current component of the KOSPI 200 index, will be excluded from the index. This is because SK Biopharm met the special inclusion criteria for indices such as the KOSPI 200.
Newly listed stocks on the Korea Exchange can be considered for special inclusion in the KOSPI 200 if their average daily market capitalization over 15 trading days from the listing date ranks within the top 50 among all common stocks.
The Exchange then decides on special inclusion after reviewing liquidity and sector weightings.
Earlier, SK Biopharm’s stock price surged 160% compared to the public offering price (49,000 won) immediately after its listing last month, securing a position within the top 20 in market capitalization on the Korea Exchange. As of the closing price on that day, its market capitalization was 14.0181 trillion won, ranking 22nd in the market capitalization ranking on the Korea Exchange.
The financial investment industry expects passive fund inflows following this special inclusion. The KOSPI 200 index serves not only as the underlying asset for KOSPI 200 futures and options but is also widely used as a benchmark index for various financial products such as exchange-traded funds (ETFs).
Additionally, SK Biopharm is expected to be newly included in the KOSPI 100 and KOSPI 50 indices.
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