NFC, Public Offering Price Set at 10,200 Won... Scheduled for KOSDAQ Listing on the 26th

Scheduled to Enter KOSDAQ on the 26th After Public Subscription for IPO on the 18th-19th

[Asia Economy Reporter Koo Eun-mo] NFC, a cosmetics material specialist company, has set its public offering price at 10,200 KRW.

NFC announced that following a two-day demand forecast conducted from the 12th targeting domestic and international institutional investors, a total of 523 institutions participated, recording a competition rate of 119.4 to 1, and finalized the public offering price at the lower end of the expected price band (10,200 KRW to 13,400 KRW) at 10,200 KRW. The total public offering amount is approximately 18.4 billion KRW, and after subscription from general investors on the 18th and 19th, it is scheduled to be listed on the KOSDAQ market on the 26th.

An NFC representative stated, "Considering the anxiety caused by the spread of the novel coronavirus (COVID-19), we decided the public offering price with a focus on increasing corporate value after listing," adding, "Since the company's fundamentals are solid, we will focus on strengthening NFC's core business capabilities and build trust with investors."

Yu Woo-young, CEO of NFC, said, "We thank the investors who showed interest in NFC's IPO despite the investment sentiment contraction and economic outlook uncertainty caused by the COVID-19 pandemic," and added, "NFC showed growth even during the THAAD incident, and we promise to continue growing despite external adversities. We will also take responsibility as a listed company and manage the business accordingly."

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