Link: https://links.sgx.com/1.0.0/corporate-announcements/R692YSPJ57YYIK9Z/4a87251a9d3be29940d84fd134b0077dd7a7a8a099cef41fc50aeaa21c736b86

Summary:

• The Beauty Tech Group's IPO has been priced at £2.71 per share, with an initial market capitalization of about £300 million and a total offer size of £106.5 million.

• Thakral Group, holding an effective pre-IPO interest of 9.55%, will sell 2,864,515 shares (2.86% pre-dilution) as part of the IPO, yielding about £7.8 million in cash.

• Post-IPO, Thakral retains 6,683,868 shares valued at £18.1 million (S$31.5 million) immediately upon admission.

• The partial disposal and revaluation provide a total uplift of approximately £16.4 million (S$28.5 million) to Thakral following IPO pricing after considering costs and taxes.

• Financial impact: Net tangible assets per share increase from S$2.12 to S$2.34; earnings per share rise from 86.04 to 108.05 cents; gearing ratio improves from 0.27 to 0.25.

• Net proceeds after tax and expenses from the sale are expected to be around S$13.1 million, bolstering liquidity and to be redeployed for future growth opportunities.

• No new directors are being appointed as a result of this transaction. No directors or controlling shareholders have interests outside their shareholdings.

• Shareholders are advised to exercise caution and await further announcements as material developments occur.