Mirae Asset Daewoo Became the Largest IPO Manager in South Korea

Mirae Asset Daewoo managed the initial public offering (IPO) of six companies, including Yongpyong Resort and Daelim C&S, in the first three quarters of this year to record a performance of 412.5 billion won along with a market share of 20.69%, according to the M&A league table Bloomberg released on October 3.

Mirae Asset Daewoo boosted its share by more than 10% in one year in spite of the cancellation of the listing of Hotel Lotte. It was followed by Korea Investment & Securities (363.8 billion won, 18.25%) and Daishin Securities (320.6 billion won, 16.08%).

During the three quarters, the South Korean IPO market contracted by 29.4% from a year ago to 1.9934 trillion won. A total of 42 companies went public in South Korea during the period and Doosan Bobcat and Samsung Biologics are scheduled to be listed in the fourth quarter.

In the local corporate bond market, NH Investment & Securities managed the issuing of bonds worth a total of 5.2495 trillion won (96 cases) to account for 24.54% of it. NH Investment & Securities worked with CJ Cheil Jedang, Hyundai Steel, LG Electronics and so on during the period. It was followed by KB Investment & Securities (4.8521 trillion won, 92 cases and 22.69%), which was on the top of the list last year, and Korea Investment & Securities (2.977 trillion won, 67 cases and 13.92%). In the third quarter, bonds worth 21.389 trillion won were publicly offered in 228 different cases, 31% less than a year ago. Those with a maturity of three years and five years took up 38% and 30%, respectively.