On the 30th morning, shares of ship and offshore cable maker TMC are down more than 12%. The selling pressure from the end of the lockup for protected shares appears to be weighing on the stock.
As of 9:57 a.m. on this day, TMC is trading at 15,960 won, down 2,250 won (12.36%) from the previous session in the stock market.
On this day, 922,425 shares held by institutional investors who pledged a 15-day lockup after listing were released from protection. That amounts to 23.7% of the total locked-up shares.
TMC, which began as Seojin Industry in 1991, listed on the stock market on the 15th of this month. The offer price was 9,300 won, and on the first day of listing the stock rose intraday to 22,900 won, achieving the so-called "double."
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