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Warpaint London PLC to list on Aim

Published: 13:20 17 Nov 2016 GMT

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Warpaint says every woman should have access to an extensive range of high quality cosmetics

Warpaint London plc, a cosmetics company with a growing sales profile, is due to list in London following the raising of £23 mln at a placing price of 97p per share.

The company is anticipated to have a market capitalisation on admission of £62.6 mln.

The money raised will be used to raise Warpaint’s profile, to increase brand awareness and to provide investment capital to accelerate growth.

In addition, the directors said that listing the company’s shares would allow it to access capital when further financing is required and that opportunities to use the shares as acquisition capital may arise.

Warpaint generated sales of £22.3 mln in 2015. During the first half of 2016 the company booked revenue of £12. Mln and it describes current trading as “strong.”

Stockdale is acting as nominated advisor and broker to the admission, which is expected on 30 November.

 

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