Global medical aesthetic corporation Biobijou announced on the 2nd that it has set the public offering price at 9,100 won, the upper limit of the public offering band, after conducting a demand forecast for domestic and international institutional investors from April 23 to 29.
A total of 2,466 institutions participated in this demand forecast, recording a final competition rate of 1,094.25 to 1. The amount raised is 27.3 billion won, and the market capitalization upon listing is expected to be 136.9 billion won. One hundred percent of the total participating quantity (including 1.20% of non-price-quoted quantity) was recorded at prices above the band upper limit of 9,100 won.
Biobijou is scheduled to go public on the KOSDAQ market on the 20th after a two-day general subscription on the 8th and 9th. The underwriter for the listing is DAISHIN SECURITIES.
Founded in 2018, Biobijou is a corporation that independently develops, produces, and sells a variety of medical aesthetic products such as skin boosters and HA fillers. It has established a business model that can operate all processes of development, production, and sales in-house, securing differentiated competitiveness across each value chain. Major brands include ▲Kandolub ▲Asenart ▲Corena.
Biobijou plans to strategically utilize the funds secured through this listing for the expansion of its second manufacturing plant, which is a new Good Manufacturing Practice (GMP) facility, as well as for research and development and new product development investments. The expansion of the second plant is a new facility investment being pursued five years after the establishment of the first plant, based on solid demand for medical aesthetic products. Once the second plant is expanded, production capacity will increase, and it plans to transition currently outsourced medical cosmetic products to in-house production at the second plant to enhance growth potential and profitability.
Biobijou CEO Yang Jun-ho said, "I would like to thank the investors for highly evaluating Biobijou's differentiated business model and the growth potential of our medical aesthetic products," and added, "After the listing, we will enhance our production and research and development capabilities and respond to the expectations of our investors through continued growth and revenue increase."