Bangkok: SKIN opened its first trading day with a positive result at 3.10 baht, up from its IPO price of 1.20 baht, a 1.90 baht increase or 158.33%.
According to Thai News Agency, Mr. Prapan Charoenprawat, President of the Market for Alternative Investment (mai), and Mr. Chanwit Khieonavawongsa, Chief Executive Officer of Skin Laboratory Public Company Limited, were present at the inaugural trading ceremony of Skin Laboratory on the Market for Alternative Investment (MAI). Listed under the Consumer Goods Industry Group with the ticker symbol "SKIN," the company's stock opened at 3.10 baht, marking a significant rise from its IPO price and raising 52.80 million baht. The market capitalization at the IPO was valued at 172.80 million baht.
SKIN is known for distributing beauty products under the brands Skinsista and Dermie. These products are created in partnership with certified manufacturers and are available through various distribution channels, including modern trade, physical stores, and online platforms. The company primarily targets teenagers and working adults aged 18-30 who are interested in self-care.
Mr. Chanwit Khieonavawongsa highlighted that the company's initial public offering received substantial investor interest, marking a pivotal moment in its growth trajectory. Over the past 12 years, SKIN has seen consistent growth in operations and consumer acceptance. The company aims to more than double its growth within the next three years. In the coming quarter, which is the peak season, SKIN plans to introduce 12 new SKUs of skincare and makeup products under the Skinsista and Dermie brands. It also plans to expand its distribution channels to enhance consumer convenience and reach a broader customer base.
Mr. Somsak Sirichainarumit, Chief Executive Officer of Asset Pro Management Co., Ltd. (APM), the financial advisor to Skin Laboratory, noted that SKIN has significant growth potential as it enters the expanding skincare, cosmeceutical, and makeup market. The well-regarded brands Skinsista and Dermie offer the company substantial opportunities to broaden its customer base by delivering a wide range of products that cater to skin care, treatment, and problem-solving at affordable prices.