Up 5%: Here's how the IPO of SkinKandy shares is going

SkinKandy's debut has been a success so far.

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It's not too often that the ASX sees an initial public offering (IPO). IPOs do roll around from time to time. But they are still rare enough that when one does happen, ASX investors like to take the proverbial popcorn out and watch what happens. As it happens, today has seen an ASX IPO. Shares of SkinKandy Ltd (ASX: SK1) have just hit the public markets for the first time.

If you haven't heard of this company, SkinKandy is a fashion, jewellery, and body piercing company founded in 2010. It now has 100 stores across Australia and New Zealand. The company plans to use the money raised from its IPO today to continue its successful expansion.

SkinKandy floated at $2.20 a share this morning, raising $160 million for a market capitalisation of $245.7 million.

Before we get into how SkinKandy shares are faring on the first day of stock market trading, let's go through some of this company's numbers.

As is typical when a stock floats on the public markets, SkinKandy has just released some of its past financial results.

The numbers for FY 2025 were particularly interesting. For the 12 months to 30 June 2025, SkinKandy reported $77.78 million in revenue, up 38.8% from FY 2024's numbers. That's with a 21-store increase over the financial year. Gross profits were also up 39.8% to $64.36 million, while net profit after tax jumped 33.3% to $8.13 million.

$3.75 million worth of dividends were also paid out over the financial year. Another $4.5 million in dividends were paid out in September last year, too. However, as is always the case with an ASX share, there are no guarantees that SkinKandy will continue to pay out dividends going forward.

For FY 2026, SkinKandy has provided a pro forma forecast of $88.7 million in revenue, $79.2 million in gross profit, and $8.6 million in net profit after tax.

IPO written on block cubes on top of coins.

Image source: Getty Images

How has the IPO of SkinKandy shares gone?

So one can see why investors may be interested in SkinKandy shares. But let's check out the IPO. So SkinKandy shares hit the ASX boards this morning at $2.20 each. They began trading above the price point, and have stayed in a range of between $2.25 and $2.34 all session. At the time of writing, the company is up a healthy 4.99% at $2.31 a share. So we can conclude that the SkinKandy IPO has been a success for investors, at least so far.

Some ASX IPOs do tend to go well initially, but slump once investors lose that initial enthusiasm. Guzman y Gomez Ltd (ASX: GYG) is a prime example. GYG shares floated almost two years ago, back in June of 2024. For the first six months of public life, the company soared, rocketing from $29 a share in June to over $43 by November. However, GYG is, today, under $18 a share.

Investors will no doubt be hoping that SkinKandy shares don't tread the same path. But we shall have to wait and see what happens.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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