Three-fourths of stocks listed on the Seoul bourse this year have delivered decent returns as investors bet big on growth of new entrants amid lagging performance of large-cap stocks, industry data showed Monday.

Stock prices of 32 newcomers on the main bourse and tech-laden KOSDAQ jumped 46.74 percent on average as of Nov. 14 compared to prices for the initial public offerings, according to data compiled by Seoul-based Daishin Securities.

In particular, four stocks listed on the main KOSPI market had an average return of 56.42 percent.

Samsung SDS, the key IT unit of Samsung Group, was the top gainer as it ended at 327,500 won ($297.32) on the first trading day on Friday, surging 72.37 percent from the IPO price of 190,000 won. It immediately became the nation’s sixth-largest company by market capitalization of 25.34 trillion won.

The average return by 28 companies listed on the KOSDAQ stood at 45.35 percent, data showed.

Mirae Asset No.2 Special Purpose Acquisition Company, a blank check company established by Seoul-based Mirae Asset Financial Group, skyrocketed 485 percent after floating in July. Interpark INT, an e-commerce company, soared 197.4 percent compared to its IPO price in February.

The newly listed stocks were subscribed by 383 times on average by retail investors, drawing a total of 50.57 trillion won in deposits, according to the data.

“Most IPO stocks have risen by a wide margin to post high profitability compared to investments in ordinary stocks,” said Lee Kyung-min, a researcher at Daishin Securities. “As the local stock market has long moved in a boxed range and large caps have showed sluggish performance, investors have turned their eyes to IPO stocks to bet on the new growth story.”

South Korea’s IPO market is expected to thrive this year as Samsung Group plans to float Cheil Industries Inc., the de-facto holding company of the nation’s most powerful conglomerate, in a move widely seen as preparation for the group’s restructuring. (Yonhap)