Goodai Global, well known for the cosmetics brand "Beauty of Joseon," has begun preparing for a listing.
According to the investment banking (IB) industry on the 18th, Goodai Global sent a request for proposal (RFP) the previous day to major domestic securities firms and foreign investment banks (IB) to select lead underwriters for its initial public offering (IPO).
Goodai Global is expected to finalize its underwriting syndicate early next year and begin full-scale preparations for a listing. When it moved to issue 800 billion won in convertible bonds (CB) earlier, it reportedly promised to list within three years.
At the time, major domestic institutions such as IMM Private Equity (IMM PE), IMM Investment, Premier Partners, JKL Partners, Kiwoom Private Equity, and Company K Partners participated.
Goodai Global is considered the flagship K-beauty stock in the over-the-counter market. After acquiring Beauty of Joseon in 2019, it went on to buy "Tirtir" and "LAKA Cosmetics," recording combined sales of 1 trillion won last year.
The 800 billion won raised through the previous CB issuance was also used as funding for additional brand acquisitions. It acquired "Round Lab" (operator Seorin Company) and "SKINFOOD" (SKINFOOD), among others.
Given that K-beauty brand operators such as APR Co. have recently been highly valued in the market, there are projections that Goodai Global could be valued at 10 trillion won.
Meanwhile, after the CB issuance, Goodai Global's post-money valuation (corporate value after fundraising) was assessed at about 4.4 trillion won.