LG CNS, the information technology services affiliate of South Korean billionaire Koo Kwang-mo ’s LG Group, slumped almost 10% in its stock market debut in Seoul on Wednesday. The company ended the day with a market cap of 5.4 trillion won (about $3.7 billion).

The information-technology services affiliate of conglomerate LG Group raised around $825 million in South Korea’s biggest listing in three years.

LG CNS Co., the diversified technology-services unit of South Korea’s LG Group, is set to make its market debut in Seoul after completing its 1.2 trillion won ($821 million) initial public offering, the nation’s largest since 2022.

South Korea's LG CNS shares fell from the initial public offering (IPO) price in their trading debut on Wednesday, as the country's largest stock listing in three years failed to arrest the recent trend of weak debuts.