Incanthera PLC (AQSE:INC) chairman Tim McCarthy discussed the latest developments at the company with Proactive's Stephen Gunnion, including the appointment of John Howes as its second non-executive director.
McCarthy elaborated on a recent commercial update and fundraising effort driven by significant interest from institutional investors. The company decided to raise additional funds to increase its product launch scale, specifically doubling the initial order of its luxury skin-care brand, Skin + CELL to 100,000 units. This decision was influenced by high demand from small-cap fund managers and strategic partners Marionnaud and AS Watson.
The funds raised are allocated entirely to inventory production, aligning with the strategy to launch the product in September, aiming to capitalise on pre-Christmas trading. Additionally, Incanthera is accelerating its entry into the Hong Kong market, potentially ahead of the originally planned first quarter of 2025. This move is supported by the increased financial resources, which are expected to enhance production capabilities and revenue generation.
McCarthy highlighted the positive reception at the Leading Lights webinar, a showcase for the Aquis Company of the Year, showcasing its rapid growth. The company has also qualified for promotion to the 'Apex' segment of the Aquis Exchange, recognising its market capitalisation growth and adherence to corporate governance standards.