[Featured Stock] NVT Shows Strong Performance on First Day of KOSDAQ Listing... Opening Price Formed at Twice the IPO Price
[Asia Economy Reporter Hyunseok Yoo] NBT is soaring on its first day of listing on KOSDAQ.
As of 9:38 AM on the 21st, NBT was trading at 41,050 KRW, up 8.03% (3,050 KRW) from the opening price of 38,000 KRW.
NBT is a mobile platform specialist company established in 2012. In November 2012, it launched the world's first lock screen mobile point platform, 'CashSlide'. It has also released 'CashFeed' and 'Norang Browser'. Since its establishment, it has maintained the number one market share in the domestic mobile point advertising market for the past eight years.
As of 2019, NBT's sales amounted to 45.2 billion KRW, and operating profit was 2.25 billion KRW, representing increases of 42% and 34% respectively compared to the previous year.
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On the 6th and 7th, demand forecasting was conducted for 584,000 shares, which is 70% of the total 832,000 shares offered in the IPO. The offering price was set at 19,000 KRW, exceeding the upper limit of the expected price band (13,200?17,600 KRW). The total public offering amount was 15.8 billion KRW. During the general subscription held on the 12th and 13th, the competition rate reached 4,397.7 to 1.
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