IPOs on KOSDAQ market hit 20-year high

▲ This file photo taken Jan. 29, 2015, shows the main entrance of the Korea Exchange headquarters in Seoul. (Yonhap)

secondary bourse-IPO record

IPOs on KOSDAQ market hit 20-year high

SEOUL, Dec. 28 (Yonhap) -- The number of newcomers on the country's tech-laden KOSDAQ market this year reached the highest ever since 2002, the bourse operator said Wednesday.

A total of 129 firms made their debuts on the KOSDAQ market this year, the highest since 2002, when 153 companies were newly listed, according to the Korea Exchange (KRX).

The sharp hike in the number of newcomers on the KOSDAQ market was in contrast to the lackluster initial public offerings (IPOs) on the main KOSPI market, as major firms have either withdrawn or postponed their planned listing amid gloomy economic situations.

So far this year, four companies were newly listed on the main KOSPI market.

Of the 129 businesses that went public on the KOSDAQ market, 45 were special purpose acquisition companies (SPACs), and this year's figure that excludes SPACs marked a slight decrease from last year's 91, the KRX said.

By type, 32 companies were components, parts and materials manufacturers, and 15 were in the software industry. The number of firms in the chip-related sector came to 12, the data showed.

As of Tuesday, 1,611 companies were listed on the KOSDAQ market, with their combined market capitalization coming to 327.91 trillion won (US$258.38 billion), according to the KRX.

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