NH Investment & Securities tops IPO market

NH Investment & Securities is leading the nation’s initial public offering (IPO) market by having attracted 645.8 billion won ($543.3 million), data said Sunday.

According to the Korea Exchange (KRX), 54 firms listed themselves on the nation’s benchmark KOSPI and secondary Kosdaq between Jan. 1 and Sept. 18. Their IPOs were worth about 1.79 trillion won.

NH has so far managed nine IPOs, making it the top underwriter for new listings so far this year. The nine IPOs were worth 645.8 billion won.

The figure is more than double that of runner-up Korea Investment & Securities that has attracted 244.9 billion won through listing stocks in the KOSPI and Kosdaq this year.

Daishin Securities and Mirae Asset Daewoo took the third and fourth place by having attracted 204.9 billion won and 173.4 billion won, respectively, in IPOs this year.

Listing Hyundai AutoEver on the main bourse in March helped NH Investment secure the top position, as its IPO attracted 168.5 billion won.

AutoEver is a system integration company that is part of Hyundai Motor Group. The company merged with Hyundai Consulting & Information, an IT subsidiary of Hyundai Engineering & Construction, in 2014.

The securities firm also managed Japanese game company SNK’s IPO on the Kosdaq to help attract 179.7 billion won in April.

Other firms such as AFW, DS Techopia and Dream Tech also listed themselves on the bourse through NH Investment.

NH Investment said it plans to manage more IPOs by the end of the year.

“Mattress maker Zinus and SK Biopharmaceuticals are also seeking IPO by the end of the year,” the official said.

Zinus was listed on the main bourse in 1989, but was delisted in 2005 because of worsening profitability, according to the KRX.

Valued at around 1 trillion won in the off-exchange trading market, the mattress maker is considered to be the most promising IPO in the second half of the year.

“NH Investment has boasted its presence in the nation’s IPO market for years,” said an industry insider.

“Firms seem to feel comfortable when NH Investment leads their IPO process. They believe they can attract more money if they list their shares with NH.”

NH Investment has been the top IPO underwriter since 2015.