Shares in South Korean budget carrier T’way Air fell below their W12,000 ($10.71) issue price on the first day they were traded on the Korea Exchange.
Pricing data shows that the shares have largely traded around the W11,600 after listing on 1 August.
The slightly lower trading price comes after the company was forced to lower its target price for the IPO from a previous band of W14,600-W16,700 per share.
Some reports in Korea point to investor fears that higher oil prices could have a major impact on airlines, and low-cost carriers in particular.
FlightGlobal schedules show that, by ASKs planned this month, T’way is the third largest budget carrier in Korea, behind Jeju Air and Jin Air. It operates a fleet of 20 Boeing 737-800s, primarily on flights from Korea to Japan, Southeast Asia and greater China.
Source: Cirium Dashboard
