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    A001040   KR7001040005

CJ CORPORATION

(A001040)
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South Korean health chain CJ Olive Young to raise $1 billion in local IPO

11/19/2021 | 04:36am EST

HONG KONG (Reuters) - South Korean health and beauty chain CJ Olive Young said on Friday it was looking to raise around $1 billion in an initial public offering, as the company seeks to tap a booming market for new listings.

The listing, which two sources aware of the matter say is set to take place early next year, comes as Korean IPOs have raised $21.4 billion so far this year, almost seven times the amount raised a year earlier, according to Refinitiv data.

CJ Olive Young has appointed Mirae Asset Securities and Morgan Stanley as the main underwriters on the transaction while KB Securities and Credit Suisse will act as co-underwriters, a spokesperson told Reuters.

A $1 billion fundraising, slated for early next year, would be double the amount the company was expected to raise, according to some bankers.

Mirae Asset Securities, Credit Suisse and Morgan Stanley declined to comment to Reuters. KB Securities did not immediately respond to a request for comment.

CJ Olive Young has about 1,200 stores across South Korea, and delivers its products through a global distribution platform to 150 countries, according to its website.

It reported operating profit of 100 billion won ($84.4 million) in 2020, the company's filing showed.

The largest shareholder is CJ Corp with a 55.24% stake as of December 2020, the company's filing showed.

So far this year, 92 companies have listed in Korea compared with 59 last year, driven by robust retail demand, Refinitiv data shows.

E-commerce firm Coupang Inc raised $4.5 billion when it listed in New York in March ,while video game developer Krafton Inc raised $3.7 billion in its July listing in Seoul.

(Reporting by Scott Murdoch in Hong Kong, Heekyong Yang in Seoul; Editing by Anshuman Daga, David Evans and Emelia Sithole-Matarise)

By Scott Murdoch and Heekyong Yang


© Reuters 2021
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Financials
Sales 2021 33 689 B 28,3 B 28,3 B
Net income 2021 345 B 0,29 B 0,29 B
Net Debt 2021 11 757 B 9,89 B 9,89 B
P/E ratio 2021 8,72x
Yield 2021 2,53%
Capitalization 2 558 B 2 152 M 2 151 M
EV / Sales 2021 0,42x
EV / Sales 2022 0,37x
Nbr of Employees -
Free-Float 42,4%
Chart CJ CORPORATION
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CJ Corporation Technical Analysis Chart | A001040 | KR7001040005 | MarketScreener
Technical analysis trends CJ CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 8
Last Close Price 79 700,00 KRW
Average target price 122 250,00 KRW
Spread / Average Target 53,4%
EPS Revisions
Managers and Directors
Kyung-Shik Son Chairman & Co-Chief Executive Officer
Hong-Gi Kim Co-Chief Executive Officer, Director & VP
Keun-Hee Park Co-Chief Executive Officer & Director
Ho-Sung Kang Vice President, Head-Legal & Compliance Support
Hyeon-Sung Song Independent Director
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