[Featured Stock] No Brand Soars 180% on First Day of Listing

Nobrand is showing a surge of over 180% on its first day of listing on the KOSDAQ.

As of 9:33 AM on the 23rd, Nobrand was trading at 40,300 KRW, up 26,300 KRW (187.86%) from its public offering price of 14,000 KRW.

Nobrand conducted a demand forecast for institutional investors from the 30th of last month to the 8th of this month, setting the public offering price at 14,000 KRW. In the subsequent public subscription for general investors, it recorded a final competition rate of 2,071.41 to 1. The deposit amount reached approximately 4.3499 trillion KRW.

Nobrand is a company that designs and manufactures clothing products for global brand companies, with major clients including global fashion brands such as Gap and Target, as well as department stores. Nobrand provided a performance guidance for this year with sales of 550 billion KRW and operating profit of 28 billion KRW. These figures represent increases of 19.8% and 167.1%, respectively, compared to the same period last year. Si-on Kang, a researcher at Korea Investment & Securities, said, "Nobrand differentiates itself from typical Original Equipment Manufacturers (OEM) and Original Design Manufacturers (ODM) by being responsible for everything from the initial planning and design to the final production of customer products, not just simple clothing production." He added, "Nobrand is expected to continue its growth trend based on a stable sales foundation, expansion of new clients, securing its own production bases in Asia with low labor costs, and profit improvement driven by increased sales of high-margin premium brands."