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IPOs slump, with many stocks halving after hot subscriptions in market rout

Newly listed stocks in South Korea are struggling after a sharp market fall, with most IPOs trading below their offer prices despite continued strong subscription demand for some deals. Data showed 44 of 48 IPOs this year were below their offer prices as of Nov. 12, with an average return of minus 41.5 percent. Financial authorities began implementing pre-demand forecasting and cornerstone investor rules on Nov. 13.