Jin Air shares open down 9.9 pct in market debut (updated)

Jin Air Co

08/12/2017 24:46

(add share price, background) 
    SEOUL, Dec 8 (Reuters) - Shares of South Korean low-cost 
carrier Jin Air Co Ltd  272450.KS  opened 9.9 percent below 
their initial public offering price in their stock market debut 
on Friday. 
    The shares were traded at 28,350 won as of 1232 GMT, after 
opening at 28,650 won ($26.20) each, versus its IPO price of 
31,800 won per share.  
    The affiliate of South Korea's top carrier Korean Air priced 
the IPO of its 12 million shares, including 3 million new 
shares, at the top of its indicative range, raising about 381.6 
billion won.  urn:newsml:reuters.com:*:nL3N1NY1CW 
    South Korean low-cost carriers have achieved exponential 
growth in recent years, as cheap travel fares fueled demand from 
South Koreans and Chinese tourists.  
    But with more players planning to join the fray, LCCs face 
growing competition, combined with slowing demand growth. 
($1 = 1,093.4000 won) 
 
 (Reporting by Dahee Kim and Hyunjoo Jin; Editing by Stephen 
Coates) 
 ((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685; Reuters 
Messaging: hyunjoo.jin.thomsonreuters.com@reuters.net)) 
 
Keywords: JIN AIR LISTING/