South Korea's IPO Market Falters as 14 of 18 New Listings Trade Below Offer Price

According to the Korea Exchange, as of July 5, fourteen of eighteen South Korean initial public offerings (IPOs) listed in the first half of 2026 are trading below their offer prices. PeacePeace Studio, which debuted on June 8 operating fashion brand Mardi Mercredi, plunged 36% on its first day and has since fallen over 75% from its offer price. Autonomous driving software company Stradvision, listed on June 30, dropped 61% from its offer price, with market capitalization shrinking from approximately 640 billion won at debut to 240 billion won. Analysts attribute the market weakness to macroeconomic headwinds and reduced buyer demand in mid-cap stocks, as liquidity concentrates on large-cap semiconductor shares.
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