Modular construction corporation NRB experienced weakness in early trading on the 28th, the first day of its listing on the KOSDAQ market.
As of 9:03 a.m. on that day, NRB was trading at 19,760 won, down 1,240 won (5.90%) from the public offering price of 21,000 won.
NRB recorded a competition rate of 800.83 to 1 in the demand forecasting for institutional investors held from the 8th to the 14th of this month, with 2,275 domestic and foreign institutions participating, and the public offering price was set at the upper end of the desired range of 18,000 to 21,000 won.
In the public offering subscription for general investors held over two days on the 17th and 18th, a competition rate of 577.49 to 1 was observed, with about 3.1834 trillion won gathered as subscription deposits.
Established in 2019, NRB is focused on providing a 'one-stop solution' from modular product development to production and maintenance. NRB is expanding its production capacity by increasing its first factory and introducing automated equipment to ensure uniform quality. A second factory is also planned to be established in the Gyeonggi-do region.
CEO Kang Geon-woo noted, "This method of creating apartments in factories and installing them on-site will settle in Korea, change the paradigm of the construction industry, and will also be exported overseas."