South Korea's Hyundai Marine Solution nearly doubles in market debut

SEOUL -- Shares in the maintenance and repair unit of South Korea's biggest shipbuilding conglomerate HD Hyundai Group nearly doubled in their stock market debut on Wednesday after the company completed the country's biggest initial public offering in more than two years.

HD Hyundai Marine Solution raised 742.3 billion won ($544 million) in its IPO last month, allocating 8.9 million shares, or 20% of its stock. It was the largest IPO on the Korea Exchange (KRX) since LG Energy Solution raised 12.8 trillion won in January 2022 in South Korea's biggest-ever IPO.