[Featured Stock] Manyeogongjang Surges Over 20% on First Day of Listing

The cosmetics company Manyeogongjang, known as the 'National Cleansing Oil,' is showing strong performance on its first day of listing.

At 9:22 a.m. on the 8th, Manyeogongjang was trading at 38,750 KRW on the KOSDAQ market, up 21% from the previous trading day. The company's opening price was 32,000 KRW, which is double the public offering price of 16,000 KRW. During the day, the stock price soared to as high as 40,300 KRW.

Last month, Manyeogongjang succeeded in its demand forecast for institutional investors with a competition rate of 1800 to 1. In the subscription for general investors, subscription deposits amounted to approximately 5.0613 trillion KRW, with a competition rate approaching 1265 to 1.

Based on last year’s figures, Manyeogongjang’s sales revenue was 101.9 billion KRW, and operating profit was 24.5 billion KRW, representing growth of 62% and 38%, respectively, compared to the previous year. Yoo-geon Han, a researcher at KB Securities, said, “By redefining the clean beauty identity, we plan to strengthen the existing market and target local online and offline channels for entry into new countries,” adding, “We also plan to expand the lineup by launching products within new brands such as OurVegan and Vanilla Boutique.”

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