Englewood Lab shares surge over 20%

[THE INVESTOR] Englewood Lab shares soared more than 65 percent above their initial public offering price on Oct. 20 after its stock market debut on South Korea’s secondary KOSDAQ last week.

Shares in the US cosmetics ingredient manufacture climbed 21.69 percent to close at 9,930 won (US$8.81), against their 6,000 won initial sale price.

This is in stark contrast to its first day on the stock market when the share price tumbled 12.68 percent. 

Established in 2004, the ODM company has provided skincare products to over 60 beauty brands including Elizabeth Arden, Clinique, Kiehl’s and L’Oreal. It posted 59.6 billion won (US$54.02 million) revenue and 6.2 billion won operating profit in 2015, a 53 percent and 33 percent hike on-year.

By Park Han-na (hnpark@heraldcorp.com)