The modular construction company NRB announced on the 16th that it has set the final public offering price at 21,000 won, at the upper end of the desired range (18,000-21,000 won) from demand forecasts for institutional investors. The total amount raised is expected to be 44.1 billion won, with a market capitalization of 219 billion won after listing.
A total of 2,275 domestic and foreign institutions participated in this demand forecast, recording a competition rate of 800.83 to 1. Among the institutional investors that participated in the demand forecast, 98.9% bid above the upper end of the price range.
NRB plans to use the funds raised this time for ▲ the establishment of a mass production system based on automation systems ▲ the advancement of high-rise modular technology ▲ new product development ▲ and entry into overseas markets.
Founded in 2019, NRB is considered a pioneer in the Korean modular market. It is the only company in the country that possesses high-rise modular technology and was recently selected for the public housing project 'Uiwang Chopyeong A-4BL,' which features the tallest modular structure in the country (22 stories).
NRB is scheduled to go public on the Korea Securities Dealers Automated Quotations (KOSDAQ) on the 28th after the subscription for general investors on the 17th and 18th. NH Investment & Securities is in charge of the listing process.