S.Korea's Glovis surges on market debut in Seoul

Newswire

SEOUL, Dec 26 (Reuters) - Shares in South Korean car shipper Glovis Co. Ltd. rose by the daily limit of 15 percent on their debut on Monday on the Korea Exchange. Shares of Glovis, 20 percent owned by Norwegian shipping group Wilh. Wilhelmsen , surged to 48,950 won after opening at 42,600 won. Glovis offered a 20 percent stake in a 159.7 billion won ($157.6 million) initial public offering, in which it sold 7.5 million shares for 21,300 won each. Following the IPO, Hyundai Motor Co. ...

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