Cosmecca Korea Plans to Switch Listing from KOSDAQ to KOSPI

• On 10 May, Cosmecca Korea (241710 KS) announced that it plans to switch its listing from KOSDAQ to KOSPI.

• The company plans to convene an extraordinary general meeting of shareholders on 29 August to finalize on the switching of Cosmecca Korea listing from KOSDAQ to KOSPI.

• Cosmecca Korea is one of the leading Korean ODM manufacturers of cosmetic products.

On 10 May, Cosmecca Korea (241710 KS) announced that it plans to switch its listing from KOSDAQ to KOSPI. The company plans to convene an extraordinary general meeting of shareholders on 29 August and the agenda item is the conditional delisting from the KOSDAQ market and the approval of listing in KOSPI market.

Cosmecca Korea Company Background

Founded in 1999, Cosmecca Korea (241710 KS) started out as one of the leading ODM manufacturers of BB creams in Korea. It first started to sell BB creams in 2007 (one of the first companies in Korea to do so). The company is also well known for its tone-up creams which have also experienced strong consumer demand. Tone-up creams help to hydrate and brighten one's skin. Tone-up creams tend to be higher margin products. Cosmecca Korea has been providing BB and tone-up creams to many leading cosmetics companies in Korea and multinational cosmetics companies.

Cosmecca Korea manufactures and develops cosmetic products. It then sells them to cosmetics companies such as Clio Cosmetics (237880 KS) is one of the largest customers of Cosmecca Korea. Major competitors in the Korean cosmetics ODM/OEM market include Cosmax Inc (192820 KS) and Kolmar Korea (161890 KS).

The company completed its IPO in 2016. Cosmecca Korea is a small cap cosmetics company in Korea. It has a market cap of 495 billion won (US$358 million). Cosmecca Korea is currently not included in KOSDAQ 150 index.