As part of the IPO, Thakral will divest 2.86% of its holding, or 2,864,515 shares for $13.1 million. It will continue to hold about 6.04% of shares in the company, which will be revalued at the market price at each reporting date.
Thakral Corporation is estimated to recognise GBP16.4 million ($28.5 million) from the initial public offering (IPO) of The Beauty Tech Group, which is priced at GBP2.71 per share.
Thakral has an effective pre-IPO interest of 9.55% in The Beauty Tech Group, which is targeting to be listed and quoted on the London Stock Exchange (LSE) on Oct 8.
