Stock Trading and Other Things

Samsung Life mobbed by investors

Summary: Samsung Life Insurance yesterday broke a record for initial public offering applications by local retail investors by attracting more than 19 trillion won $17 billion in subscription deposits as it ended the two day share sign up period Shares offered by Korea s biggest life insurer were 40 6 times oversubscribed by retail investors who were allocated 20 percent of the 4 9 trillion won issue The previous record was set by KT G which attracted 11 6 trillion won in subscription applications in 1999 Competition for the shares intensified yesterday after Samsung Life received 3 2 trillion won in subscription deposits on Monday Retail investors visited the branch offices of the securities companies that were underwriting the issue or made applications over the Internet or on the phone The IPO has attracted all types of retail investors I asked my daughter in law to help me buy shares in Samsung Life online this morning said Kim Eui jin 84 who subscribed to 100 shares in the insurance company It has been around 30 years since I retired from my job With my severance pay I invest in various stocks In the case of shares of Samsung Life I am planning on keeping them for at least five months Local securities firms were astonished by the investor fever over the IPO It has become a refuge for big investors who have been seeking an alternative investment vehicle in this low interest rate market said a brokerage official The branch offices of the six local underwriters of the IPO were packed with investors wanting to apply for the shares Woori Investment Securities reported that its allotment of shares was 80 5 times oversubscribed while it was 51 7 times at Tong Yang Securities and 43 4 times at Samsung Securities The fever over the Samsung Life IPO indicates that investors have not found any other place for their funds said Kim Sae joong head of the investment strategy team at Shinyoung Securities It s the confluence of surplus liquidity matching the large size of the IPO Samsung Life is scheduled to start trading on May 12 Those who fail to acquire shares in the application process will have their subscription deposits returned beginning May 7 By Jung Jae yoon jyj222 joongang co kr Copyrights ? JoongangIlbo Joins com All rights reserved Samsung Life Insurance yesterday broke a record for initial public offering applications by local retail investors by attracting more than 19 trillion won $17 billion in subscription deposits as it ended the two day share sign up period Shares offered by Korea s biggest life insurer were 40 6 times oversubscribed by retail investors who were allocated 20 percent of the 4 9 trillion won issue The previous record was set by KT G which attracted 11 6 trillion won in subscription applications in 1999 Competition for the shares intensified yesterday after Samsung Life received 3 2 trillion won in subscription deposits on Monday Retail investors visited the branch offices of the securities companies that were underwriting the issue or made applications over the Internet or on the phone The IPO has attracted all types of retail investors I asked my daughter in law to help me buy shares in Samsung Life online this morning said Kim Eui jin 84 who subscribed to 100 shares in the insurance company It has been around 30 years since I retired from my job With my severance pay I invest in various stocks In the case of shares of Samsung Life I am planning on keeping them for at least five months Local securities firms were astonished by the investor fever over the IPO It has become a refuge for big investors who have been seeking an alternative investment vehicle in this low interest rate market said a brokerage official The branch offices of the six local underwriters of the IPO were packed with investors wanting to apply for the shares Woori Investment Securities reported that its allotment of shares was 80 5 times oversubscribed while it was 51 7 times at Tong Yang Securities and 43 4 times at Samsung Securities The fever over the Samsung Life IPO indicates that investors have not found any other place for their funds said Kim Sae joong head of the investment strategy team at Shinyoung Securities It s the confluence of surplus liquidity matching the large size of the IPO Samsung Life is scheduled to start trading on May 12 Those who fail to acquire shares in the application process will have their subscription deposits returned beginning May 7 By Jung Jae yoon jyj222 joongang co kr Copyrights ? JoongangIlbo Joins com All rights reserved

Image Dimensions: 260 x 328