Hugel shares mildly affected by Bain's stake sale report

[Photo by Hugel Inc.]

Hugel Inc. shares stayed calm, mildly affected by the news that global private equity fund Bain Capital is mulling to cash out of Seoul-listed botox maker by selling its controlling stake.

As of 11:46 am on Friday, Hugel shares traded up 0.1 percent at 203,400 won ($180) after shooting up to as high as 208,000 won in earlier trading.

The U.S. PEF is seeking as much as $2 billion for its 44.4 percent stake in Hugel, Bloomberg reported on Thursday. Bain Capital’s holding in the botox maker is valued at about 1.2 trillion won based on Thursday’s share price, but the sale could fetch about $2 billion when including management premium, the report said.

Bain Capital is working with Bank of America Corp. on the stake sale, which could kick off as soon as the second half of this year, according to Bloomberg, but deliberations are preliminary and the PEF could still decide against a sale.

Hugel, founded in 2001, manufactures botulinum toxin and dermal facial filler used for beauty and cosmetic surgery injections to minimize wrinkles. Bain Capital acquired the controlling stake in Hugel for about $817 million in 2017.

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