'Mamamoo Agency' RBW Soars on Debut Then Plummets... Up 0.45%

[Asia Economy Reporter Minji Lee] RBW, the agency of girl group MAMAMOO, gave up its initial gains after recording a "ttasang" on its first day on the KOSDAQ market.

As of 2:21 p.m. on the 22nd, RBW was trading at 43,000 KRW, up 0.35% from its opening price. RBW, which was listed on the KOSDAQ market that day, opened at 42,800 KRW, twice its public offering price, and achieved a "ttasang" by hitting the upper limit price (55,600 KRW) in the early trading session.

Although it is still trading at more than twice the public offering price, it is considered to have dropped significantly compared to the early session. Currently, foreigners have net sold about 57,000 shares, and institutions have net sold about 130,000 shares in the stock market. Its market capitalization is 347.4 billion KRW, higher than mid-sized entertainment stocks such as Cube Entertainment (335.5 billion KRW) and FNC Entertainment (129.3 billion KRW).

RBW recorded a subscription competition rate of 3,706.79 to 1 in the general public subscription held on the 11th and 12th, attracting deposits of 12.4243 trillion KRW. This is the third highest subscription competition rate in the history of domestic IPOs. In the demand forecast for institutional investors, it also recorded a high competition rate of 1,719.6 to 1, and the public offering price was set at the top of the company's desired band (18,700 to 21,400 KRW) at 21,400 KRW.

RBW plans to use the public offering funds to build a comprehensive content production center capable of handling music and video content production, including rehearsal rooms, recording studios, and performance halls, as well as to invest in and acquire shares of content companies that can create future business synergies. In addition, it aims to strengthen market competitiveness by expanding IP production and securing high-quality external IPs through aggressive investments.

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