(Reuters) -Britain's Project Glow Topco, the parent company of Beauty Tech Group, said on Monday that it is considering an initial public offering on the main market of the London Stock Exchange. The
Beauty Tech's parent Project Glow Topco considers London IPO
(Reuters) -Britain's Project Glow Topco, the parent company of Beauty Tech Group, said on Monday that it is considering an initial public offering on the main market of the London Stock Exchange.
The London stock market has faced challenges through 2025, weighed down by low valuations, a raft of companies seeking listings abroad, and investor concerns compounded by lingering Brexit-related challenges.
This IPO move highlights Project Glow's confidence despite a cautious investor environment.
Cheshire-based company Beauty Tech, founded in 2009 as CurrentBody.com, makes and sells at-home beauty devices using lights and lasers. The company develops and retails products under the brands CurrentBody Skin, ZIIP Beauty, and Tria Laser and operates in more than 90 countries.
In fiscal 2024, Beauty Tech reported revenue of 101.1 million pounds ($136.55 million), and earnings before interest, tax, depreciation and amortisation excluding one-off costs and acquisition related expenses of 22.9 million pounds.
($1 = 0.7404 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Mrigank Dhaniwala and Sherry Jacob-Phillips)
