APR Passes Preliminary Review Application for Listing on the KOSPI Market

by Moon Hyewon

Published 12 Dec.2023 17:47(KST)

Global beauty tech company APR has passed the preliminary review for listing on the Korea Exchange's KOSPI market.

APR logo. [Photo by APR]

The KOSPI Market Headquarters of the Korea Exchange announced the preliminary review results for APR's new stock listing on the 12th. The exchange confirmed that APR meets the listing requirements under the listing regulations and is eligible for listing. Accordingly, APR plans to submit a securities registration statement soon and proceed with the full public offering schedule.

Founded in 2014, APR is a global company with solid performance domestically and internationally based on beauty devices and beauty brands. It owns beauty brands such as Mediheal, Aprilskin, Forment, GlamD Bio, as well as fashion brand NERDY and instant photo booth brand Photogray.

Since launching the beauty device brand ‘Mediheal AGE-R’ in 2021, APR has maintained rapid growth both quantitatively and qualitatively.

The AGE-R beauty device drove performance by surpassing 1.5 million cumulative sales domestically and internationally as of the second week of last month. Riding the growth of beauty devices, APR recorded its highest-ever performance in the third quarter of this year. The cumulative sales for the third quarter reached KRW 371.8 billion, a 37.9% increase compared to the same period last year. This accounts for 93.5% of last year’s total sales of KRW 397.7 billion. Operating profit reached KRW 69.8 billion, already far exceeding last year’s total operating profit of KRW 39.2 billion. Notably, the proportion of overseas sales in total revenue increased. Overseas individual sales in the third quarter of this year recorded KRW 56.1 billion, a 52.5% increase compared to the same period last year.

Kim Byung-hoon, CEO of APR, said, “We have successfully passed the preliminary review stage, the first hurdle for listing on the KOSPI market. We will make every effort to ensure a successful KOSPI listing by thoroughly preparing for the submission of the securities registration statement and the overall listing process.”