Thakral Corporation Ltd has revealed plans for The Beauty Tech Group Limited, in which it holds a 9.32% stake, to pursue an initial public offering (IPO) on the London Stock Exchange. The announcement follows a previous clarification regarding a Sky News article and highlights the company’s strategic move to enhance its financial position through this potential listing.
The Beauty Tech Group, formerly known as CurrentBody.com Ltd, is a UK-based company under the parentage of Project Glow Topco Limited. Thakral’s investment in the firm is valued at $12.5 million (S$17.1 million), as per its latest audited financial statements for the year ending 31 December 2024. The IPO, if successful, is expected to positively impact Thakral’s financial standing by increasing the value of its pre-IPO interest in the company.
The board of Thakral Corporation has instructed its management to monitor the IPO’s progress and keep shareholders informed, adhering to legal and regulatory requirements in both Singapore and the UK. The company has cautioned shareholders and potential investors to exercise prudence when dealing with its securities, advising them to consult professional advisers if necessary.
Further updates will be provided as developments occur, ensuring compliance with any regulatory constraints. The announcement underscores Thakral’s commitment to transparency and strategic growth through its investment in The Beauty Tech Group.
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