Hyundai Heavy Industries Shares Jump Above IPO Price on Debut

Hyundai Heavy Industries Shares Jump Above IPO Price on Debut
Parts of the structure of a ship are seen at Hyundai Heavy Industries' shipyard in Ulsan, South Korea, on May 29, 2018. Kim Hong-Ji/Reuters
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SEOUL—Hyundai Heavy Industries’ shares closed 86 percent above their initial public offering (IPO) price on their trading debut in South Korea on Friday.

The shipbuilder, one of the largest in the world, raised $935 million from its IPO, with much of the proceeds set to fund investments in new technology.