Telecom Equipment News
- China's 3NOD jumps 15% on 1st day on KOSDAQ market
Date: 20-Aug-2007 Sources: (Xinhua Online)
SEOUL, Aug. 17 (Xinhua) -- Shares of China's 3NOD Digital Group Co., the first foreign company to list its shares on the South Korean stock market, jumped by the daily limit of 15 percent in their debut on Friday.
Shares in 3NOD opened at 3,000 won (3.17 U.S. dollars) in the tech-heavy KOSDAQ market and closed at 3,450 won (3.65 U.S. dollars). 3NOD stocks were sold to the public earlier this month at 2,500 won a piece.
The debut of 3NOD shares came amid steep declines across South Korean stock markets. The KOSDAQ index extended its slide on Friday and closed at 673.48, down 2.26 percent. On Thursday, the index plunged more than 10 percent, driven by panic selling from the impact of the U.S. subprime loan crisis.
3NOD, an electronics maker, raised 30 billion won from the share sale.
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