Nara Space Technology, a small satellite developer, was strong in early trading on the KOSDAQ on the 17th, its first day of listing.
As of 9:08 a.m., Nara Space Technology was trading at 36,000 won, up 19,500 won (118.18%) from the offering price of 16,500 won. It achieved a "double" (twice the offering price) right after the open.
From the 26th of last month to the 2nd of this month, Nara Space Technology recorded a competition rate of 879.08 to 1 in a book-building for institutional investors. A total of 1,961 domestic and overseas institutions participated, and the offering price was set at the top end of the desired range (13,100–16,500 won) at 16,500 won.
In the public subscription for retail investors held over two days on the 8th and 9th of this month, the competition rate was 699.64 to 1. About 2.482 trillion won was collected as subscription deposits.
Founded in 2015, Nara Space Technology is a small satellite end-to-end service provider that offers services across the entire process from small satellite design and manufacturing to operation and analysis.
By successfully launching and communicating in succession with its self-developed small satellites Observer-1A and GYEONGGISat-1 (Observer-1B), the company directly verified its technology in the space environment and, based on this, has expanded orders targeting major domestic and overseas government agencies (B2G) and private companies (B2B), including the Korea Astronomy and Space Science Institute (KASI), the Korea Aerospace Research Institute (KARI), and Hanwha Systems.