Jin Air shares open down 9.9 pct in market debut

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SEOUL, Dec 8 (Reuters) - Shares of South Korean low-cost carrier Jin Air Co Ltd opened 9.9 percent below their initial public offering price in their stock market debut on Friday.

The shares were traded at 28,350 won as of 1232 GMT, after opening at 28,650 won($26.20) each, versus its IPO price of 31,800 won per share.

The affiliate of South Korea's top carrier Korean Air priced the IPO of its 12 million shares, including 3 million new shares, at the top of its indicative range, raising about 381.6 billion won.

But with more players planning to join the fray, LCCs face growing competition, combined with slowing demand growth.

($1 = 1,093.4000 won)

This article appears in: Politics , US Markets , Stocks , IPOs

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