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Baek Jong-won, CEO of The Born Korea, answers questions from reporters at a press conference for the Initial Public Offering (IPO) held at the Conrad Hotel in Yeouido, Seoul, on the 28th. (Photo = Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] The Born Korea, led by CEO Baek Jong-won, made a strong debut on the KOSPI on November 6, soaring well above its initial public offering (IPO) price of 34,000 KRW to open at 46,350 KRW. The stock attracted heavy investor interest, hitting an intraday high of 64,500 KRW before stabilizing around 60,000 KRW. By the end of the trading day, The Born Korea’s shares closed at 51,400 KRW, marking a 51.2% increase from the IPO price, and achieving a market capitalization of approximately 743.5 billion KRW.
As the largest shareholder with a 60.78% stake, Baek holds around 8.79 million shares. Based on the closing price, his shares are now valued at approximately 451.9 billion KRW, and at the intraday peak, this value exceeded 567.1 billion KRW.
Co-founder Kang Seok-won, who established the predecessor company of The Born Korea with Baek nearly 40 years ago, holds 2.07 million shares (14.36% ownership post-IPO). His stake is valued at about 106.7 billion KRW, based on the closing price, making him another substantial beneficiary of the company’s stock market debut.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
