NRB, a modular construction company, has secured a deposit size of 3 trillion won in the public offering subscription for general investors.
On the 18th, NRB reported that the public offering subscription for general investors, conducted over two days from the 17th, recorded a competition rate of 577.49 to 1.
Out of the allocation of 525,000 shares for general investors, there were 237,207 applications totaling 303,182,850 shares. The subscription deposit was tallied at 3.1834 trillion won.
In the demand forecasting conducted for institutional investors from the 8th to the 14th, a competition rate of 800.83 to 1 was recorded, leading to the determination of the offering price at the upper limit of the hoped range of 21,000 won.
Established in 2019, NRB is regarded as a 'first mover' in pioneering the modular dwellings market.
An official from NH Investment & Securities, which is managing the listing, noted, "NRB received active participation in the subscription as many people were encouraged by the government's housing supply expansion policy."
NRB plans to use the funds raised from the public offering to build a mass production system and enhance high-rise modular technology. Expansion into overseas markets is also planned.
Kang Geon-woo, the CEO of NRB, stated, "We will lead the modular market through advancements and continuous research and development by establishing an automation system."
Meanwhile, NRB is set to be listed on the KOSDAQ market on the 28th after payment is completed on the 22nd.