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‘HA filler’ Bioplus started the initial public offering(IPO) on KOSDAQ.

By 2020년 August 27일October 21st, 2020No Comments

‘HA filler’ Bioplus started the initial public offering(IPO) on KOSDAQ.

‘HA filler’ Bioplus started the initial public offering(IPO) on KOSDAQ.

The Bell | Reporter Yang Jung-woo
Date of publication: 2020-08-24 PM 2:33:03

Bioplus, a hyaluronic acid filler company, has started its IPO on KOSDAQ.
Bioplus is a small and strong company that makes most of its sales abroad by developing unique HA filler called ‘MDM filler’. Filler, which is used to improve wrinkles, is growing rapidly in size of global markets.

According to IB industry sources on the 20th, Bioplus has begun listing in earnest in order to participate in the KOSDAQ IPO. After confirming listed company as Kiwoom Securities Co., Ltd, the company is in the midst of internal maintenance in line with the listing requirements of the Korea Exchange.

While Bioplus is likely to be listed next year, there is a possibility that the listing may be delayed in order to increase corporate value. It is not urgent to raise a public offering as it already has a business structure that is on a stable track to generate cash. Considering its listing value and the possibility of a successful public offering, it has enough room to wait for the best timing.

Bioplus is strengthening its position as a company that specializes in HA filler. As a viscous gel, filler is used for beauty and cosmetic purposes such as improving facial wrinkles, lip wrinkles, and scar treatment. It is evaluated as a skin improvement procedure that enjoys maximum effect with minimal invasions. Filler using HA as raw material is the main filler around the world.

Bioplus developed MDM (MBMT+DMCT+MDAP) filler that combines High-end technology while using HA as a raw material. It is said to have improved its persistence and side effects, which have been cited as weakness of HA filler. Thanks to getting attention first from overseas such as china, overseas exports account for 95 percent of its total sales.

The global filler market maintains rapid growth of 11% per year. The market is expected to reach $4.3 billion in 2023. The surge in anti-aging needs as the population ages is a trend in the global market. Although HA filler is more expensive than Botox, demand for it is exploding due to its high stability in human injection.

However, competition between domestic and foreign brands, including large companies, is fierce in the HA filler market. Due to the high growth potential of the market, many of them are likely to jump into the red ocean. Because of this, Bioplus has been focusing more on technology development rather than on price competition. It eventually developed MDM filler and MDM filler is attracting attention in the market as a filler that has received the right price.

Recently, the company established a joint venture in Hainan, China, with medical and health services as well as filler production. Bioplus is the only Korean company to join Hainan’s 100 free trade port project. The joint venture will serve as a bridgehead for exporting filler to Hong Kong and Southeast Asia in the future.

Its sales and operating profit in the first quarter of this year were estimated respectively at 4.6 billion won and 2.3 billion won. It is predicted that its annual operating profit will be about 10 billion won this year. Its operating profit ratio is approaching 50 percent thanks to its identity as a high-end brand in HA filler market. Its flagship brands include ‘Skin Plus Hyal’ and ‘Hyal Dew’.

A market source said “Bioplus succeeded in differentiating its products with MDM filler in domestic and foreign HA filler markets,” adding “We are also promoting to set up production bases in Europe and the Middle East, which are the main homelands of filler.”

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