The medical aesthetic corporation Biobijou saw its stock price rise on the first day of its entry into the Korea Securities Dealers Automated Quotations (KOSDAQ) market.
Biobijou's stock was traded at 25,700 won in the Korea Securities Dealers Automated Quotations (KOSDAQ) market at 9:05 a.m. on the 20th. This was an increase of 182.42% (16,600 won) compared to the offering price of 9,100 won. Early in the session, the stock price even rose to 26,500 won.
Biobijou's main product is the skin booster, a beauty medical product that helps improve skin texture by assisting collagen production in the skin. Even during the process of going public (IPO) amid the K-beauty craze, the company has been on a roll.
A total of 2,466 institutions participated in the demand forecast conducted for institutional investors, setting the final offering price at the upper end of the hoped-for range. During the subsequent subscription for general investors, the company attracted a subscription deposit of 4.2 trillion won.
Biobijou plans to use the funds raised from this listing to expand production facilities and to develop new products. A representative from Biobijou noted, "We will continue to enhance our development, production, and distribution capabilities to become a leading corporation in the global medical aesthetic market."