Kopec shares welcomed by market
South Korea's nuclear reactor firm is celebrating a 44% boost in share price after its first day on the stock market. Kopec has also gained a key accreditation for component export.
South Korea's nuclear reactor firm is celebrating a 44% boost in share price after its first day on the stock market. Kopec has also gained a key accreditation for component export.
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| The reactor pressure vessel of Shin-Kori 1 is put in place in April 2008. The OPR-1000 unit is the first indigenous development of a Westinghouse import; next came the APR-1400, of which two are under construction and eight more planned |
In October the company received accreditation from the American Society of Mechanical Engineers to use its 'N-Stamp' on nuclear equipment. This is the global quality standard for making and installing pressure and safety-related components used in the hearts of nuclear power plants such as reactor pressure vessels, pressurizers, steam generators, main pumps, and coolant pipes.
Shares were placed at the low limit of the previously announced range of possible initial public offering prices: 21,600 won. Today's trading on the Korea Composite Stock Price Index (Kospi) saw these climb 9,450 won to 31,050 won.
Financial writers at Bloomberg linked interest in the shares to the renewed global demand for nuclear power in the light of a need to secure energy supplies while cutting carbon dioxide emissions.
As well as over 40 coal-fired boilers, Kopec has taken part in the construction of 20 nuclear power reactors, including six of its own design developed from Westinghouse units imported in the 1970s. Six more own-design units are under construction now. It has overseen the development of a complete indigenous supply chain, based on major South Korean firms like Doosan, and is now beginning to market the APR1400 pressurized water reactor to foreign buyers.
