South Korean capital markets

Author: | Published: 1 Aug 2007

Tom Young
Staff writer

South Korea IPO/FO international issuance
Priced Deal Value ($m) No.
2001 3,367 2
2002 1,554 4
2003 1,220 6
2004 5,310 24
2005 12,623 38
2006 8,248 18
2007 YTD 4,147 7
Source: Dealogic

In June, Samsung Card's initial public offering (IPO) attracted $10 billion in orders from foreign investors. It was 56 times over subscribed – quite a feat in a South Korean equity market supposedly on its knees. A week earlier, STX Pan Ocean, a local shipping firm, applied to list shares in Seoul via an IPO worth $430 million.

These successes are down to revised IPO rules, which could ensure that Samsung Card is not the last Korean company attracting foreign investors. After over 10 years of underachievement the country's equity market is about...