NFC "KOSDAQ Listing Progressing Smoothly... Minimal Impact from COVID-19"

[Asia Economy Reporter Geum Bo-ryeong] It has been revealed that NFC, a cosmetics material specialized company, is progressing smoothly in its preparation for listing on the KOSDAQ.

On the 5th, NFC stated that COVID-19 will not act as a factor slowing down growth such as sales. This is because the material business that NFC focuses on is mainly formed around the domestic market, and the ODM·OEM business generates about 60% of its sales in the North American region, making the proportion of China small.

An IR Q-dus official in charge of NFC's initial public offering (IPO) consulting explained, "The proportion of the Chinese market in NFC's overall business structure is less than 5%," adding, "Even in 2017, when the cosmetics industry experienced a downturn due to the Terminal High Altitude Area Defense (THAAD) incident, NFC actually achieved growth."

NFC submitted a securities registration statement on January 15 for listing on the KOSDAQ. Although it entered the IPO process aiming for listing at the end of February, the listing schedule was delayed by about a month due to simple administrative errors and supplementary elements regarding the registration statement.

NFC plans to conduct demand forecasting for institutional investors on the 12th and 13th to finalize the public offering price. On the 18th and 19th, it will accept subscriptions from general investors and plans to be listed on the KOSDAQ market by the end of this month.

Yu Woo-young, CEO of NFC, said to investors, "The core technology that NFC possesses is a platform technology expected to have scalability not only in the cosmetics field but also in the pharmaceutical and food sectors," adding, "I hope you will focus on the competitiveness of the company itself."

This content was produced with the assistance of AI translation services.