Cosmetics firm BeautyClick eyes NSE listing
Published on: April 13, 2021 02:53 (EAT)
Beauty based online commerce company Africanhair PLC, trading as BeutyClick has announced its intention to list on the Nairobi Securities Exchange (NSE). The decision follows the firm’s shareholders approval to raise new equity with the goal of bolstering the commercialization of its beauty product portfolio, enhancing its e-commerce platform and expanding into the region. “Upon receiving the green light from our shareholders, we kick-started the process to seek requisite regulatory approvals for a listing and further capitalization at the NSE,” Africanhair PLC founder and director Jesper Drescher told shareholders. The company has subsequently appointed Standard Investment Bank (SIB) as its lead transaction advisor in the listings process. Other advisors enlisted include CDSC Registrars Limited (receiving agent and data processing), Co-operative Bank (receiving bank), JP Advocates LLP (legal advisors) and Kirenge and Associates as the reporting accountants. Domiciled in Kenya. Africanhair is a wholly owned subsidiary of ClickBeauty International based in Denmark. The firm terms itself as a pioneer and the leading online retailer in Kenya’s beauty industry. Its BeutyClick trading brand lists skincare and hair care products from the world’s most renowned brands including Maybelline, Revlon and Garnier. The line further features African made cosmetics including makeup and fragrances. The firm’s potential listing will serve to lessen NSE’s barren listing run. NSE’s last listing was the underwhelming inclusion of Homeboyz Entertainment PLC on its Growth Enterprise Market Segment (GEMS) last December.