[Asia Economy Reporter Ji Yeon-jin] Sunjin Beauty Science, a cosmetics raw material manufacturer, hit the upper price limit during trading on the first day of its KOSDAQ listing on the 27th.
As of 10:25 a.m. that day, Sunjin Beauty Science was trading at 29,900 won, up to the price limit of 30.00% from the opening price of 23,000 won. The stock price, which started at twice the public offering price of 11,500 won, soared to the upper limit within 10 minutes of the market opening. This is known as a 'ttasang,' where the opening price on the listing day is formed at twice the public offering price and then rises to the upper limit.
Founded in 1988, Sunjin Beauty Science is a company specializing in manufacturing raw materials used in sunscreens, color cosmetics, and skincare products. Its consolidated sales for the first to third quarters of last year were 35.7 billion won, with an operating profit of 3.6 billion won.
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