On the morning of the 2nd, the stock price of the cosmetics manufacturer Cosmecca Korea is up over 2%. This comes after news that the KOSDAQ corporation Cosmecca Korea is seeking a transfer listing to the securities market.
As of 9:19 a.m. on the 2nd, Cosmecca Korea is trading at 62,000 won, up 1,500 won (2.48%) compared to the previous trading day in the KOSDAQ market.
Previously, on the 30th of last month, the original design manufacturer (ODM) Cosmecca Korea submitted a preliminary examination application for its transfer listing to the securities market. The listing underwriter is NH Investment & Securities, marking the first transfer listing to the KOSPI this year.
Kwon Woo-jeong, a researcher at Kyobo Securities, noted, "Despite the strong exports of K-beauty over the past year, it is regrettable that the sales growth rate has somewhat slowed due to aggressive competition from large ODM companies expanding their production." However, she added, "The recent rapid recovery in indie brand sales suggests that the performance has passed its nadir."
Cosmecca Korea recorded a standalone revenue of 328.6 billion won and an operating profit of 44.4 billion won last year.