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[Alpha Biz=(Chicago) Reporter Kim Jisun] SD Biotech, which enjoyed a boom with sheet mask packs in China, has been put up for sale. It once generated hundreds of billions of won in sales, but went under court receivership as sales in China fell. The expectation that cosmetics exports could turn around due to the spread of Korean Wave content is an area that increases investment attractiveness.
According to the investment banking (IB) industry on the 3rd, EY Hanyoung, a sales manager of SD Biotech, is conducting preliminary due diligence on multiple prospective buyers. We are planning to sign a conditional investment contract this month. It is a stalking horse method with a prospective buyer in advance, and plans to finalize the sale after conducting the main bid in late September.
The deal will be made through the acquisition of new shares through a third-party paid-in capital increase. At least 50% of the acquisition price shall be paid as a paid-in capital increase, and the rehabilitation security rights and rehabilitation bonds shall be reimbursed. If the acquisition amount falls short of the repayment amount of rehabilitation collateral and rehabilitation bonds, the company plans to secure as much stake as possible through capital reduction.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
