[Alpha Biz= Reporter Kim Jisun] Pharmaresearch, a beauty device company that recently secured a $200 million investment from a global private equity firm, is receiving positive evaluations from the securities industry.
On the 6th, analysts noted that the foreign investment has addressed previous undervaluation concerns for Pharmaresearch. As a result, firms such as Samsung Securities, Daol Securities, and Eugene Investment & Securities have raised their target prices for the company, and BNK Investment & Securities has initiated coverage.
Pharmaresearch announced that it had raised $200 million through the issuance of redeemable convertible preferred stock (RCPS) from the European private equity firm CVC Capital. RCPS combines features of redeemable shares, which allow investors to demand repayment, and convertible shares, which can be converted into common stock. Pharmaresearch plans to use the funds to expand its overseas distribution network for its flagship products, such as Rejuran, and for M&A activities.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
