Filed in archive
IPOs
by Greg Cruey 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).
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).
Trackback: http://publish.creative-weblogging.com/publish/mt-tb.pl/87474
Addthis
Ask
Blinklist
del.icio.us
Digg
Fark
Facebook
Google
Lycos
Ma.gnolia
Mr Wong
Netscape
Netvousz
Newsvine
Reddit
StumbleUpon
Slashdot
Tailrank
Technorati
Wink
Yahoo
Vote for 3NOD Becomes First China Firm to List IPO in Korea:
|
Rating: 9.67 out of 3 vote(s) cast.
|
Subscribe
Use the search to look for other interesting posts
| RSS |  See all blog subscribe options |
 What is RSS? | |
| Yahoo! |
|
| Addthis |
|
| Bloglines |
|
| Newsletter | |
| Follow us on Twitter! |
