Skin&Skin to Pursue Public Sale Through Paid-in Capital Increase

[Asia Economy Reporter Yoo Hyun-seok] Skin&Skin, a cosmetics manufacturing specialist company, announced on the 28th that it plans to pursue a public sale through a third-party paid-in capital increase in relation to the KOSDAQ Market Committee's substantial review of listing eligibility held on the 24th. The company will select a lead manager for the sale and proceed with the sale procedures.

Skin&Skin's stock trading has been suspended since July due to embezzlement allegations, and a substantial review of listing eligibility is currently underway by the exchange.

A company official explained the background, saying, "Skin&Skin, a victim of Optimus Asset Management, decided at the board meeting to conduct a public sale through a transparent and fair competition method to attract a new major shareholder with sufficient capability to enhance external credibility and continuously lead the company's main business as new management."

They also stated, "After selecting the lead manager for the sale soon, we will realize the maintenance of listing by attracting a major shareholder who can grow the company together through transparent governance improvement via a fair public sale, transparently verifying Skin&Skin's future and current situation."

Listed on KOSDAQ in 2012, Skin&Skin has achieved three consecutive quarters of profit this year and is expected to return to profitability after three years.

This content was produced with the assistance of AI translation services.