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(Sharecast News) - Shares in The Beauty Tech Group rallied on Friday as the skincare specialist's 300m London debut got underway.
Priced at 271p, the shares jumped 5% as trading started, and by 0845 BST they had reached 285p.
Cheshire-based Beauty Tech, which was founded in 2009, is known for its LED face masks and at-home laser treatments. LED face masks have surged in popularity recently, supported by social media hype and celebrity fans.
Laurence Newman, founder and chief executive, said: "As we enter the next stage of our growth journey, this IPO provides the perfect platform to increase awareness of our three distinct, premium brands and take the group to the net level, while delivering sustained and profitability growth."
The firm, which owns CurrentBody Skin, ZIIP Beauty and Tria Laser, is seeking to raise primary capital up around 29m.
Existing shareholders have also sold shares in the company, meaning the total offer size equates to 106.5m, Beauty Tech said.
The IPO is also a win for the London Stock Exchange, which has struggled to attract new listings amid fierce international competition.
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