3NOD Becomes First China Firm to List IPO in Korea

Filed in archive IPOs on August 21, 2007

3NOD Electronics has become the first company based in China to list an initial public offering on the Korea Stock Exchange. The Shenzhen-based company makes speaker systems and other audio products, according to Engaging China, and has become company from any foreign country to list an IPO on the KOSDAQ, Korea's main securities exchange.




According to the Shenzhen-based company, 3NOD's IPO is a part of an effort to take the company deeper into the international market.

Korea relaxed regulations to allow foreign companies to list themselves on Korea's stock market in 2005. Chinese companies have taken the world's stock markets by storm this year, listing IPO's in New York, London, Osaka, Singapore, Frankfurt, and now Seoul.

3NOD was established in 1996. It had operating revenues of $48m in 2006. According to Korea Law Dot Com shares of 3NOD traded for the first time on Friday, August 17, and opened at 3000 won (about $3.16 US) - 20% higher than the IPO price. But the end of trading that day they had climbed to 3450 won (about $3.65).