HPO Passes Preliminary Review for KOSDAQ Listing

[Asia Economy Reporter Hyungsoo Park] HPQ, owner of the health functional food brand 'Denps,' announced on the 26th that it has passed the preliminary review for listing on KOSDAQ.

Founded in April 2012, HPQ operates the health functional food business based on the premium brand 'Denps,' targeting not only the domestic market but also European and Asian markets.

The planned public offering amount under discussion is over 100 billion KRW, and the market capitalization upon listing is expected to exceed 500 billion KRW.

HPQ estimated that it achieved consolidated sales of approximately 140 billion KRW and operating profit of about 25 billion KRW last year, representing about 2.5 times growth compared to 2019.

Among the 2020 sales, about 10 billion KRW was generated from overseas markets such as China, Japan, and Europe. This was the result of securing raw material and production networks locally in Europe through its Danish subsidiary.

With the added capabilities of key personnel recruited since 2019 for overseas market expansion, the pace of overseas sales growth is expected to accelerate further. HPQ plans to submit a securities registration statement in March to proceed with the public offering process.