Nara Space Technology, a micro-satellite development company, raised about 2.5 trillion won in deposits from retail investors in subscriptions for its KOSDAQ listing.
Nara Space said on Feb. 9 that the retail tranche drew a competition rate of 699.61 to 1. The number of subscription orders came to 290,951.
Nara Space recorded a competition rate of 879.08 to 1 in a book-building for institutional investors conducted from Jan. 26 to Feb. 2. Accordingly, the offering price was set at the top end, 16,500 won. Its market capitalization after listing is about 190.3 billion won.
Founded in 2015, Nara Space provides micro-satellite manufacturing and services. In Nov. 2023, it successfully launched the internally developed micro-satellite "Observer-1A."
Funds secured through the listing will be used for mass production and operation of a satellite constellation for real-time Earth monitoring, space domain awareness (SDA, Space Domain Awareness), low Earth orbit satellite communications, and low Earth orbit satellite PNT (Positioning, Navigation, Timing).
Nara Space Technology is set to debut on the KOSDAQ on Feb. 17. The lead underwriter is Samsung Securities.