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US cosmetics developer Englewood Lab to go public in Korea

[THE INVESTOR] Englewood Lab, a US cosmetics developer and manufacturer, is seeking to be listed on South Korea’s secondary KOSDAQ bourse, and has turned in an application, it announced Aug. 26.

The company is expecting to go public in mid-October, offering 3.5 million shares at a price band range between 6,000 won (US$5.40) and 7,000 won. The lead financial adviser is Hana Financial Investment. 

Established in 2004 in Englewood, New Jersey, by CEO David Chung, the skin care company supplies anti-aging, acne-improving and brightening products as well as sunscreens to major cosmetics companies including Elizabeth Arden, L’Oreal, Kiehl’s and Laura Mercier.

Englewood Lab plans to set up manufacturing facilities in South Korea to strengthen its presence in Asia and also to expand to makeup products.

By Hwang You-mee (