Beauty Tech Group (LSE:TBTG) has made a successful debut on the London Stock Exchange.
Marking one of the few new IPO’s in London this year, the at-home beauty tech’ firm completed a £106 million raise, pricing new shares at 271p, and valuing the company at £300 million.
Conditional dealing started this morning on the exchange’s main market, and the share price gained just over 4% in the first half hour, rising to 282.5p.
"As we enter the next stage of our growth journey, this IPO provides the perfect platform to increase awareness of our three distinct, premium brands and take the Group to the next level,” said chief executive Laurence Newman.
“The continued momentum within the business and strong support from investors during our roadshow, gives us the confidence and financial firepower to fully capitalise on the significant opportunities that lie before us.”
Beauty Tech, which was previously known as Project Glow, sells a range of at-home skincare devices designed to deliver salon-style treatments, such as LED masks and microcurrent tools.
It is positioning itself as a leader in the growing market for so-called beauty tech, where cosmetics meet gadgets, and believes the listing will help raise its profile with consumers and potential partners.
"I am incredibly proud of everything The Beauty Tech Group has achieved since we launched CurrentBody in 2009.
“From establishing ourselves as a global leader in the fast growing at-home beauty technology market to successfully completing this milestone listing on the London Stock Exchange, the Group continues to go from strength to strength.”