Modular Specialist PLANM Signs IPO Underwriting Agreement and MOU with Shinhan Securities
[Reporter Woo Su-min / rsvp@mk.co.kr] PLANM, a modular construction specialist, announced on the 14th that it has signed a Memorandum of Understanding (MOU) and an IPO lead underwriting agreement with Shinhan Securities to establish a foundation for long-term growth.
The partnership aims to accelerate PLANM’s sustainable growth and global expansion while building a financial support system for the development of the domestic modular industry.
Shinhan Securities is currently lead-managing PLANM’s Pre-IPO round and plans to provide comprehensive financial support. This includes equity investment, credit loans, debt financing, structured financing utilizing held assets, and various domestic and international funding solutions necessary for future growth.
Notably, Shinhan Securities is actively investing in promising modular companies and will directly participate in PLANM's current Pre-IPO round.
The bank’s interest stems from PLANM’s differentiated technology, recognized both in Korea and abroad. PLANM provides a one-stop solution covering design, manufacturing, installation, and maintenance. It is evaluated as Korea’s No. 1 modular specialist with robust design-build capabilities.
Having dominated the school modular sector, PLANM is expanding into residential markets, winning contracts for public housing, dormitories, and military quarters. The company is also diversifying into research and office facilities for private corporations. Currently, it is conducting research on the standardization of apartment design for LH (Korea Land and Housing Corporation), with plans to participate in mid-to-high-rise modular housing projects starting late this year.
Targeting the $400 trillion global modular market, PLANM is collaborating with architectural and engineering firms in the UK and beyond. These efforts have led to ongoing projects for hotels and educational centers in the U.S. and Australia.
PLANM is nearing the close of its Pre-IPO round, valued at up to 80 billion KRW, with several VCs reviewing investments. Following this, the company aims to go public in 2026 with a target valuation of 1 trillion KRW.
Source Information
By Reporter Woo Su-min (rsvp@mk.co.kr) Copyright © Maeil Business Newspaper. All rights reserved. Prohibition of unauthorized reproduction, redistribution, and AI training.
Source: Maeil Business Newspaper (Maeil Kyungje)
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