E-beauty firm eyes Nairobi Securities Exchange listing
SCI & TECH
By Wainaina Wambu | April 14th 2021
Online beauty store BeautyClick has announced its intention to list at the Nairobi Securities Exchange (NSE). The firm's shareholders recently approved the move to raise new equity aimed at the commercialisation of its beauty product offerings, strengthening its e-commerce platform and accelerating growth in Kenya and the region.
The approval included a directive to start the listing. The firm's founder and director Jesper Drescher said the shareholders’ unanimous decision sets the pace for the company to invite the public to invest as it seeks further capitalisation to bolster its growth plan.
“Upon receiving the green light from shareholders, we kickstarted the process to seek requisite regulatory approvals for a listing and further capitalisation at the NSE. We have appointed a team of transaction advisors to provide appropriate guidance on the process," said Drescher.
It was incorporated in Kenya and is a wholly-owned subsidiary of Denmark based ClickBeauty International.
The Company has appointed one of Kenya’s leading transaction financial advisors - Standard Investment Bank as the lead Transaction Advisor. CDSC Registrars Limited will act as the receiving Agent and Data Processing Consultant while Cooperative Bank will be the Receiving Bank. Hill +Knowlton Strategies will be the Communication Consultants; other Advisors are: JP Advocates LLP as the Legal Advisors; Kirenge and Associates as the Reporting Accountant
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