At-home beauty device giant The Beauty Tech Group has launched its initial public offering (IPO) as it joins the London Stock Exchange (LSE).
Commencing trading at the time of marketing opening today, 3 October, the IPO was priced at 271 pence per share, giving the company an expected market value of £300m under the ticker (stock market identifier) ‘TBTG’.
Founded in 2009 by Laurence Newman, who opened the market this morning as part of the IPO launch event, The Beauty Tech Group is known for its role in booming the at-home beauty device market through its brands CurrentBody, ZIIP Beauty and Tria Laser.
The IPO marks a significant milestone in the company’s journey from startup to public business.
The initial offering comprises over 10.7 million shares, equating to a total offer size of £106.5m, representing approximately 35.5% of the company’s issued share capital.
Within half an hour of launch, the share price gained over 4%.
Speaking to Cosmetics Business at the morning launch (3 October), Newman said: “There has been very few beauty companies that have listed on the London Stock Market, and even fewer that have come from a complete start-up, founder-led business.
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