[Asia Economy Reporter Oh Ju-yeon] Big Hit Entertainment, which was listed on the KOSPI market on the 15th, saw its stock price fall below 200,000 won during trading on the 19th after a decline following its listing.
As of 9:05 AM that day, Big Hit's stock price was trading at 196,500 won, down 2.00% from the previous trading day. Big Hit started the day at 198,500 won but the price dropped to as low as 192,500 won.
Big Hit was considered one of the biggest IPOs in the second half of the year and showed signs of success. During the general subscription held on the 5th and 6th, the overall competition rate was finally 606.97 to 1, with deposits totaling 58.4237 trillion won.
Riding on investors' expectations, Big Hit formed an opening price double the public offering price on the first day of listing and achieved the so-called 'ttasang' by hitting the upper price limit, but the stock price plunged as sell-offs for profit-taking poured in.
Investors who bought Big Hit shares on the first day of listing, expecting the upward trend to continue like with SK Biopharm and Kakao Games, were left disappointed.
Over the two days of the 15th and 16th, individual investors purchased 403.8 billion won worth of Big Hit shares, making it the top net purchase stock of the past week. On the 15th alone, they net bought 243.5 billion won worth, and even on the 16th, when the stock price plunged more than 20%, they bought about 160.2 billion won worth, but all are currently in a loss position based on the current stock price.
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