[Market Focus] d'Alba Global Surges Over 80% on First Day of KOSPI Listing

The operator of the cosmetics brand 'd'Alba', d'Alba Global, is recording an increase of over 80% on its first day of listing.

As of 9:01 a.m. on May 22, in the KOSPI market, d'Alba Global was trading at 119,900 won, which is 53,600 won (80.84%) higher than its offering price of 66,300 won. In the early session, the stock price even rose to 123,300 won.

Since its establishment in 2016, d'Alba Global has quickly established itself in the market with 'luxury' and 'vegan' as its core keywords. Sales surged from 69.2 billion won in 2021 to 145.2 billion won in 2022, and 200.8 billion won in 2023. Operating profit also increased from 2.4 billion won in 2021, to 14.6 billion won in 2022, and 32.4 billion won in 2023. Last year, overseas sales alone amounted to 140 billion won.

Although the IPO market has recently been experiencing a downturn, d'Alba Global attracted investor interest during the public offering process. In the institutional investor demand forecast, it recorded a high competition rate of 1,140.88 to 1, and in the general subscription, the competition rate was 1,112.02 to 1. A total of 7.23 trillion won in deposits was collected.

Recently, Cho Daehyung, a researcher at DS Investment & Securities, commented on d'Alba Global, saying, "The company is highly attractive in terms of valuation (stock price relative to corporate value). The size of the public offering was small, and the number of shares available for circulation until the release of the 2,293,824 shares with a one-month lock-up after the listing is also limited to about 3.8 million shares, so the short-term stock price trend is expected to be favorable."