IPO stocks in Thailand and South Korea surge on market debuts

Investors snap up shares in drugmaker SK Biopharm and glove producer Sri Trang

SK Biopharmaceuticals won approval in the U.S. for Xcopri, an epilepsy treatment last year. (Photo courtesy of SK Biopharm)

KIM JAEWON and APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writers

July 2, 2020 11:47 JST

Updated on July 2, 2020 14:07 JST

SEOUL/BANGKOK -- Investors in Thailand and South Korea snapped up shares in newly listed companies on Thursday, driving them sharply higher after keenly anticipated initial public offerings.

Investors in SK Biopharmaceuticals, a drugmaker, and Sri Trang Gloves Thailand, which makes protective gloves, hope both companies can capitalise on demand after the coronavirus pandemic. Their shares rose 160% and 77% respectively above their IPO prices.