The Magnificence Tech Group, a Manchester-based agency that owns a number of magnificence remedy know-how manufacturers, has listed on the London Inventory Change with an preliminary market cap of £300m.
Based in 2009 beneath the title CurrentBody, The Magnificence Tech Group now owns a portfolio together with ZIIP Magnificence and Tria Laser, with a presence in over 80 nations.
The itemizing, which noticed the agency increase £29m, is one in all just some tech-focused floats in an in any other case sluggish 12 months for the London Inventory Change.
“This IPO represents an thrilling alternative for us to increase our worldwide presence considerably and speed up the event and launch of progressive new merchandise,” mentioned Sam Glynn, chief monetary officer at The Magnificence Tech Group.
“We are able to now look ahead to increasing our enterprise by new channels and markets on a world scale.”
The corporate was suggested on its IPO by audit, tax and consulting agency RSM UK.
“This itemizing is a big improvement for the sweetness and tech sectors. It comes at a time when public market exercise stays subdued, and the London Inventory Change is experiencing low itemizing exercise,” mentioned Diane Craig, company finance accomplice at RSM UK.
“The Magnificence Tech Group’s itemizing signifies new momentum within the UK’s public markets, and gives a lift to the London Inventory Change’s efforts to draw excessive progress, internationally centered companies.
“The itemizing reinforces the attractiveness of London for dynamic Worldwide firms seeking to entice public capital to assist their progress, particularly within the face of rising competitors from different international exchanges.”
Learn extra: TBTG expands HQ at Bruntwood SciTech’s Alderley Park
