Singapore-listed Thakral Corporation said it expects to pocket as much as £8.09 million ($10.9 million) from the planned listing of The Beauty Tech Group on the London Stock Exchange (LSE), according to a disclosure on Thursday.
The UK-based beauty devices retailer has published its IPO prospectus and set a price range of £2.51 to £2.91 per share. This would give the company an estimated market capitalisation of £280-320 million ($377-431 million).
Thakral holds a pre-IPO stake of 9.55%. As part of the listing, it has agreed in principle to sell up to 2.86% of the company, or 2.86 million shares, raising between £6.97 million and £8.09 million.
Post-offering, Thakral will continue to hold an effective interest of about 6.04%.
The Beauty Tech Group is targeting an October listing on the LSE’s main market. Existing shareholders—including Thakral—will be subject to a lock-up extending until four weeks after the publication of the company’s 2025 audited accounts, followed by a six-month orderly market arrangement.
For Thakral, the IPO provides a potential positive financial impact from the sale of its stake and the increased value of its remaining interest. The Singapore firm had reported a total carrying value of S$17.1 million for the investment as of December 2024.
“The board has noted the potential of a positive uplift to the group’s overall financial position arising from the The Beauty Tech Group share sale and an increase in value of the group’s remaining effective interest of about 6.04% in The Beauty Tech Group held immediately following admission through Project Glow Topco,” Thakral said in the disclosure.
