Beauty Tech Group targets £320m London IPO in October
Cheshire-based at-home beauty devices maker aims to raise about £29m via a London listing, with pricing set between 251p and 291p a share.
The Beauty Tech Group is targeting a valuation of up to £320m as it prepares to list on the London Stock Exchange in October. The Cheshire-based company behind at-home beauty devices said shares will be priced at 251p to 291p in its initial public offering, valuing the business at between £280m and £320m once it lists. The group plans to raise about £29m by issuing 11.6m new shares, with up to 29.3m shares being sold by existing shareholders.
Retail investors will be able to participate through RetailBook, which will offer shares listed at IPO via its network of partner platforms, retail brokers and wealth managers. The deadline for intermediaries to apply on behalf of investors is 4:30 p.m. on 2 October.
Beauty Tech Group was founded in 2009 as CurrentBody.com by chief executive Laurence Newman and chief technology officer Andrew Showman. The company shifted in 2019 to focus on owning its own-brand products under three labels: CurrentBody, ZIIP Beauty and Tria Laser. Its devices employ LED, radio frequency, microcurrent and laser technologies, and the firm has built a portfolio of products ranging from facial masks to hair-growth stimulator helmets and hair-removal gadgets. In the year ended last year, the group reported underlying earnings of £22.9m on revenues of £101.1m, with first-half revenue for this year rising 27% to £55.2m.
Elaine O’Donnell, the former chairwoman of Games Workshop, has been appointed non-executive chair ahead of the flotation. The company sees the at-home beauty market as worth roughly £9bn to £12bn globally, placing it among the rapidly growing segments of the broader £464bn global beauty and personal care sector. International expansion has been a key driver, with products now sold in more than 90 countries.
The float is part of a wider push to boost London's IPO pipeline, which has recently seen high-profile listings relocate offshore or be acquired. London had just nine new listings in the first half of the year, collectively raising about £182.8m. Beauty Tech’s listing would add liquidity for a sector that has benefited from the growth of consumer tech-driven beauty devices and cross-border demand.
Investors should note that the group plans to offer 11.6m new shares and allow existing holders to dispose of up to 29.3m shares, with the IPO pricing set to determine the final market capitalization ahead of a listing targeted for October in London.
The company notes that the at-home beauty market is a growing segment within the broader beauty and personal care industry and highlights international momentum as a key driver of recent performance. If the listing proceeds as planned, Beauty Tech will join a cohort of consumer brands seeking to strengthen their capital bases and accelerate international expansion through a London listing.