Africanhair, trading as BeautyClick , a beauty e-commerce company, has announced its intention to raise new equity by listing at the Nairobi Securities Exchange (NSE).
BeautyClick is a pioneering beauty e-commerce company that has grown to be the leading online retailer in Kenya’s beauty industry. The company, incorporated in Kenya, is a wholly owned subsidiary of ClickBeauty International based in Denmark.
The Company’s shareholders recently approved its quest to raise new equity for the purpose of bolstering the commercialization of its beauty product portfolio. This move was aimed at enhancing its technology-backed e-commerce platform and accelerating growth both in Kenya and the region. The approval included a directive to immediately start the listing process.
Speaking on the shareholders’ consent for an NSE listing, the company’s founder, and director Jesper Drescher, said that the shareholders’ decision sets pace for the company to invite the public to invest as it seeks more capitalization to grow its growth plan.
“Upon receiving the greenlight from our shareholders, we kickstarted the process to seek requisite regulatory approvals for a listing and further capitalization at the Nairobi Securities Exchange. To this end, we have appointed a team of experienced transaction advisors to provide the appropriate guidance on the process,” said Mr. Drescher
The Company has further appointed Standard Investment Bank as the lead Transaction Advisor. CDSC Registrars will act as the receiving Agent and Data Processing Consultant while Cooperative Bank will be the Receiving Bank. Hill +Knowlton Strategies will be the Communication Consultants; other Advisors are: JP Advocates LLP as the Legal Advisors; Kirenge and Associates as the Reporting Accountants.