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Biotechnology

South Korea's SD Biosensor leaps in Seoul trading debut

Company's COVID test kit success attracts investors amid hot local IPO market

SD Biosensor is attracting investor interest over the performance of its coronavirus testing kits.   © AFP/Jiji

SEOUL -- SD Biosensor rose sharply in its stock market debut on Friday as the South Korean coronavirus test kit maker benefited from a strong business performance and individual investor fever over initial public offerings in the country.

Shares in the Suwon-based company closed up 7.0% at 61,000 won, after starting trading 9.6% higher than the initial public offering price of 52,000 won. Its market cap reached 6.3 trillion won ($5.5 billion), landing it in 59th place among companies listed on the benchmark Kospi index.

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