The Beauty Tech Group’s desire to float the business on the London Stock Exchange, first announced 15 days ago, has moved a step closer. The business on Wednesday (24 September) announces the price range for its planned initial public offering, aimed for October, and the issue of a prospectus.

The price range for the offer has been set at 251p-291p per share, implying an estimated market capitalisation ranging £280 million to £320 million, which is lower than some had specualted.

The offer comprises up to 11.554 million new shares to raise primary capital of around £29 million, “to ensure a debt-free position at IPO with sufficient working capital, and up to 29.32 million existing shares to be sold by shareholders of the company, subject to pricing”.

The company's directors said they be

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