PRESS RELEASE

[Press release] BioPlus is about to claim a preliminary certificate of merit. Can Bioplus leading to Initial Public Offering .. ?

By 2021년 April 8일July 23rd, 2021No Comments

<This article was shown on 06:43 The Bell paid page on 07 April 2021.>

In November last year, the company valued about 200 billion won and achieved its highest performance ever for two consecutive years.

 

Hyaluronic acid (HA) filler company Bioplus is planning to start IPO process in April. As it recorded its highest performance in history last year, expectations for value are expected to be high.

According to the securities industry, Bioplus plans to claim a preliminary certificate of merit on the Korea Exchange within April. After the designated audit for IPO, the company is quickly proceeding with the next procedure.

Preliminary preparations have also been completed before the public disclosure. In January of this year, the company implemented a free capital increase, which issues one new share per share of ordinary shares. This is a preliminary measure to expand the number of shares in circulation.

As sales and operating profit are showing a strong trend, BioPlus will enter the KOSDAQ through a general listing method rather than a special listing.

When it issued its first convertible bond (CB) in November last year, the conversion value was 32,054 won(₩). At that time, the company was recognized for its corporate value of about 200 billion won(₩) when applied to the total number of shares issued. As performance is expected to increase this year, there is a possibility that prices will soar further at the corporate valuation stage.

It has recorded record-high performance for two consecutive years ahead of the public announcement, and has been making military fire for the success of the public offering. BioPlus made 24.4 billion won(₩) in sales and 12.3 billion won(₩) in operating profit based on consolidation last year. Compared to 2019, sales and operating profit increased by 43.16% and 79.0%. This is the result of rapid performance growth every year after recording losses in 2014.

Its operating profit ratio is over 50 percent. As sales increase, operating profit increases. The secret to high operating profit ratio lies in premium brand strategy.

Unlike the existing hyaluronic acid filler, BioPlus is targeting domestic and foreign markets with its high-end hyaluronic acid filler based on its own technology. It has become a premium brand as it is said to have improved its sustainability and side effects relatively, it has become a premium brand.

About 75% of sales of Bioplus occurred overseas last year. This is the result of focusing its capabilities on overseas markets to avoid price competition in domestic markets from early stages of growth. Last year, China’s Hainan project was the only South Korean manufacturer to participate in and obtain filler permits from India, spurring the expansion of overseas markets.

Afterwards, the company aims to directly produce fillers in China and expand them into health care businesses as well as export fillers to Hong Kong and Southeast Asia.

As of the end of last year, the largest shareholder is CEO Jung Hyun-kyu, who has a 34.73% stake. Its stake in related parties, including the largest shareholders, is 36.7 percent. ‘VC’s, including ‘Gause Capital Management’ and ‘HanYoung Innovation Fund’, hold about 20% of shares.

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