According to financial investment industry sources on the 15th, PLANM is moving forward with its Pre-IPO, with Shinhan Securities serving as the lead manager. The company aims to secure approximately 80 billion KRW through this round.
The Pre-IPO is structured as a multi-closing deal. The first closing, totaling roughly 11 billion KRW, was reportedly finalized at the end of last month. This initial round consisted of a mix of Strategic Investors (SI) and Financial Investors (FI), including Shinhan Securities, NH Hedge Asset Management, and Unid BT Plus (an affiliate of the OCI Group).
The second closing is also imminent. Several large-scale asset management firms have reportedly completed their investment reviews. Market experts expect the second round to be finalized as early as late July or by early August at the latest.
Market Leader with "Design-Build" Capabilities
Founded in 2020, PLANM is a specialist in modular construction. The company possesses "design-build" capabilities, offering a one-stop solution that covers everything from design and manufacturing to installation and maintenance. The market currently evaluates PLANM as the number one player in the domestic modular sector.
PLANM’s modular technology is expanding into various architectural fields, showing significant potential for business scalability. Indeed, the company has entered the residential modular market this year by securing orders for public official housing, dormitories, and military officer quarters.
Furthermore, PLANM is pursuing business diversification by securing orders for private sector research centers and office buildings. Currently, the company is conducting a research project commissioned by LH (Korea Land & Housing Corporation) to standardize the design of multi-family housing. It is expected to participate in mid-to-high-rise modular public housing projects, which are scheduled for official bidding starting in the second half of this year.
Targeting the 400 Trillion KRW Global Market
Since its inception, PLANM has targeted the 400 trillion KRW global modular market. As a result of collaborations with domestic and international architectural firms, engineering companies, and developers—including those in the UK—the company is currently pursuing projects for hotels and educational centers in the United States and Australia.
This Pre-IPO is interpreted as a strategic move to secure capital and expand business operations ahead of its planned listing next year. Preparations for the IPO, including the selection of lead managers, are proceeding in tandem. Shinhan Securities, the lead manager for this Pre-IPO, will also serve as the IPO lead manager, with the two parties recently signing an official IPO mandate agreement.
Beyond simple lead management, Shinhan Securities plans to provide multi-faceted financial support for PLANM’s growth. To this end, they have signed a Memorandum of Understanding (MOU) for a strategic partnership. The financial support will encompass equity investments, credit loans, debt financing, structured financing utilizing held assets, and other global funding solutions necessary for the company’s future growth.
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