Naraspace Technology, a small satellite company, announced Sunday that it has set its final initial public offering price at 16,500 won, the top of its indicative range of 13,100-16,500 won, following a book-building process with domestic and foreign institutional investors.
A total of 1,961 domestic and foreign institutions participated in the book-building, recording a subscription rate of 879.08-to-1. Based on the confirmed offering price, total proceeds amount to approximately 28.4 billion won ($20 million), with the expected market capitalization after listing at around 190 billion won.
Naraspace plans to complete its retail subscription on January 8-9 and debut on the KOSDAQ market on January 17. Samsung Securities (016360.KS) is the lead underwriter.
Naraspace is Korea's only end-to-end small satellite company, providing comprehensive services from satellite design and manufacturing to operation and data analysis. The company plans to invest the IPO proceeds in satellite constellation production and operation for real-time Earth monitoring, launch and space verification of next-generation small satellites for Space Domain Awareness, low-earth-orbit satellite communications and positioning-navigation-timing services, AI agent services for extreme climate response, and expansion of mass satellite production infrastructure.
"With this listing as a turning point, we will further advance our proprietary satellite-based technology and data service capabilities," CEO Park Jae-pil said. "We will also pursue full-scale business expansion in the global market to build a foundation for sustainable growth."
