The medical aesthetics corporations Biobijou raised more than 4 trillion won in a public subscription offering.
On the 9th, Biobijou announced that it had secured 4.0229 trillion won in deposits during the two-day public subscription for general investors, which took place from the 8th to that day.
The subscription attracted interest with 884,143,080 shares applied for the 780,000 shares available to general investors, resulting in a competition ratio of 1,133.52 to 1.
Biobijou's flagship beauty medical product, Skin Booster, aids in collagen production in the skin and helps improve skin texture, recording sales of 29.6 billion won and an operating profit of 8.2 billion won last year.
It is classified as part of the broader K-beauty industry and also received strong demand from institutional investors in previous forecasts. A total of 2,466 institutions participated, and the final public offering price was set at 9,100 won, the upper limit of the desired price range.
Biobijou plans to recruit a total of 3 million shares, all newly issued, in this listing, with a public offering amount of 27.3 billion won, and the market capitalization after listing is estimated to be 136.9 billion won.
Biobijou will strategically use the funds from the public offering for expanding production facilities and investing in the development of new products.
A Biobijou official noted, "Even after listing, we will continuously strengthen our development, production, and distribution capabilities to become a leading corporation in the global medical aesthetic market."
Meanwhile, Biobijou is set to go public on the KOSDAQ market on the 20th of this month, following the payment on the 13th. Daishin Securities is the lead underwriter for the listing.