Aromatica, a scalp and skin care brand seeking to list on the KOSDAQ market, set its offering price at 8,000 won.
Aromatica said on the 17th that it conducted a book-building for domestic and overseas investors from the 7th to the 13th and set the offering price at the top end of the desired range (band), 8,000 won. Based on the finalized price of 8,000 won, the total offering amount is 24 billion won, and the market capitalization after listing is about 101.7 billion won.
Earlier, Aromatica and its lead underwriter, Shinhan Investment & Securities, presented a price band with a lower end of 6,000 won and an upper end of 8,000 won.
A total of 2,274 domestic and overseas institutional investors took part in Aromatica's book-building. By share count, 99.95% or more (including those without a price indication) were submitted at or above the top end of the band (8,000 won).
The order volume from domestic and overseas institutional investors was about 9.72 million shares, with a competition ratio of 1,153 to 1. The rate of voluntary lockup commitments was 58.01% of the total.
Aromatica plans to focus the funds secured through the listing on content-centered marketing and building a data-driven global marketing system. Through this, it aims to form rapport with consumers and build brand trust with authentic content.
A Shinhan Investment & Securities official who led the listing said, "Many institutional investors highly evaluated Aromatica's differentiated competitiveness, including the technology it has accumulated over 20 years and its ESG management philosophy," and noted, "From the first day of book-building, many institutional investors showed high participation and set voluntary lockup commitments."
Chief Executive Kim Young-gyun of Aromatica said, "Through this KOSDAQ listing, we will lead change so that K-beauty can evolve beyond 'trendy, cost-effective products' into a brand that combines safe ingredients and sustainability," and added, "We will leap forward as a 'conscious beauty (Conscious Beauty) corporation recognized in the global market."
Aromatica will take general subscriptions for two days from the 18th to the 19th. After payment on the 21st, it plans to list on the KOSDAQ market on the 27th.