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Photo = Yonhap news |
[Alpha Biz= Kim Sangjin] The stock price of The Born Korea(475560), led by CEO Baek Jong Won, has been on a downward trajectory, with 99% of its shareholders facing losses.
On Friday, The Born Korea's stock closed at KRW 30,500, down by 550 KRW (1.77%) from the previous day. During the trading session, the stock hit a year-low of KRW 30,350. Compared to its peak price of KRW 64,500 on November 8 last year, the stock has now dropped by 53%.
In the month of January, foreign investors sold off KRW 1.4 billion worth of The Born Korea stocks, while institutional investors sold KRW 1.9 billion. In contrast, individual investors bought around KRW 3.1 billion worth of the company's shares.
According to NH Investment & Securities on January 30, 99.99% of the 18,115 investors holding The Born Korea stocks through the brokerage are at a loss. These investors have an average loss rate of -25.66%, with an average purchase price of KRW 38,407. Kiwoom Securities estimates the average purchase price for individual investors at KRW 49,700.
Since its listing in November 2024, The Born Korea has experienced a steady decline in stock price. Despite a successful institutional investor demand forecast, which saw the stock launch at an initial public offering (IPO) price of KRW 34,000, the stock's performance has deteriorated.
On January 24, the stock was trading at KRW 33,150, which is 8.67% lower than the IPO price.
Founded in 1994, The Born Korea operates a wide range of restaurant franchises such as Baekdabang, Hong Kong Banjeom, Saemaeul Sikdang, and others. The company is diversifying its revenue streams through various channels, including home shopping, convenience stores, and offline stores.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
