SILICON2(257720) was up more than 8% early on the 19th. Buying is seen gathering on news that it secured a 300 billion won investment from a global private equity fund.
As of 9:53 a.m. that day on the KOSDAQ market, SILICON2 was trading at 48,200 won, up 3,700 won (8.31%) from the previous session.
Earlier, SILICON2 said in a filing the previous day that it will conduct a third-party paid-in capital increase of about 300 billion won for Starlink Investment, a special-purpose company (SPC) set up by CVC Capital, a global private equity fund (PEF) manager.
CVC is a major shareholder of Douglas, Europe's largest distributor in beauty and cosmetics, and has a track record of investing in PDC Wellness and domestic brand Starvision.
SILICON2 plans to use the funds raised through this issuance to expand its global distribution network and logistics hubs, focusing on Europe, the United States, the Middle East, and Asia.
A SILICON2 official said, "This investment is more than simple fundraising; it is a strategic partnership for SILICON2 to take another step forward as a global K-beauty distribution platform," adding, "We will leverage CVC's global network and experience in consumer goods and retail to expand our overseas distribution network and logistics infrastructure."