South Korean biopharmaceutical firm SK Bioscience Co is the top gainer among initial public offerings that raised more than $1 billion this year, leading a ranking dominated by listings from that country.
SK Bioscience's shares are up about 262% since they started trading in Seoul in the first quarter, the most among the 94 major offerings since January, according to data compiled by Bloomberg. The IPO raised $1.3 billion for the firm, which is a local Covid-19 vaccine-production partner with AstraZeneca Plc.
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The company was the first among five Korean firms that raised more than $1 billion each through new-share offers this year, with several tech-related names also surging in their trading debuts. Most of those deals were buoyed by strong participation by retail