South Korea’s investment company Nau IB Capital will go public on the nation’s secondary Kosdaq bourse on Oct. 4 with hopes of raising more than $20 million from its initial public offering.

Its IPO will be offered at the band of from 9,500 won ($8.44) to 11,000 won per share, bringing the company 27.5 billion won ($24.4 million) based on the top end price. After a two-day book-building session that ends on Tuesday, it will receive subscriptions from retail investors on September 17-18.

Its market capitalization is expected to reach up to 100 billion won. Shinyoung Securities Co. is the underwriter.

Founded in 2003 as a corporate restructuring company, Nau IB Capital has been operating various businesses including financing new technology businesses, running private equity funds and advising mergers and acquisitions. Unlike other investment firms that usually invest in startups, Nau IB invests in companies that have been on the decline after reaching their peaks to help them bounce back through business reorganization, the company said.

It attracted 200 billion won worth growth capital fund from the nation’s largest institutional investor National Pension Service in 2016. Its assets under management reached 435 billion won as of at the end of June this year, surging 177 percent from 157 billion won in 2013.

By Cho Hee-young and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]