Updated: Red-hot Cuckoo Electronics IPO close to 600x subscribed

Sean Gladwell - Fotolia

Investors poured into Cuckoo Electronics’ W255bn ($248m) IPO in droves last week, which resulted in an institutional tranche that is close to 600x subscribed. Unsurprisingly, the South Korean home appliances manufacturer took advantage of the overwhelming demand and priced the trade at the top of its indicative price range on July 28.