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[THE INVESTOR] Korean cosmetics company CLIO, which recently caught the attention of luxury goods giant LVMH, is gearing up for an initial public offering on Seoul’s secondary bourse KOSDAQ, according to industry sources on July 15.
The sources additionally revealed that the cosmetics company is currently preparing to submit the required documents necessary for listing by end of July. NH Investment & Securities will partake in the process as underwriter.
The sources additionally revealed that the cosmetics company is currently preparing to submit the required documents necessary for listing by end of July. NH Investment & Securities will partake in the process as underwriter.
The firm’s market capitalization is expected to surpass 1 trillion won ($871 million) on the favorable reputation it has been building in the ever-evolving K-beauty industry since 1997.
In 2015, CLIO generated revenue of 107 billion won and operating profit of 22.5 billion won, a noteworthy jump from the previous year.
LVMH’s private equity unit L Capital’s recent investment of US$ 50 million in the firm is believed to have worked as a catalyst in its decision to go public.
By Jung Min-kyung (mkj1105@heraldcorp.com">mkj1105@heraldcorp.com)
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Articles by Korea Herald
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