London Stock Exchange welcomes Warpaint London plc
Warpaint London plc, a specialist supplier of colour cosmetics, was this morning welcomed to London Stock Exchange (LSE) to celebrate its successful admission to AIM.
Warpaint London is a colour cosmetics business, based in Iver, Buckinghamshire and was founded by Sam Bazini and Eoin Macleod (Joint Chief Executive Officers). The business is made up of two divisions; closeout and own-brand. The second and larger own brand division consists primarily of the Group’s flagship brand, W7. W7, supplies quality colour cosmetics at affordable prices, focusing on the 16 to 30-year-old age group and is sold in over 40 countries to more than 230 customers.
The Company has successfully placed £23 million through an over subscribed placing of new and existing shares to institutional investors. New funds raised will be used to further accelerate the growth of the business and its international expansion plans. Upon Admission, the Company had a market capitalisation of £63 million at the placing price of 97 pence and the shares trade under the symbol W7L.
Warpaint was joined at the LSE to celebrate its Admission to AIM by its advisers including Stockdale Securities Limited as Nominated Adviser and Broker to the Company, IFC Advisory as Financial PR, DAC Beachcroft and BDO, as Legal Advisers and Reporting Accountants respectively.
Sam Bazini and Eoin Macleod, Joint CEOs of Warpaint, commented: “We are delighted to have been admitted to AIM, a significant milestone in the growth story of Warpaint London. The support that we’ve seen from the London market has been very encouraging and we are very pleased to welcome new shareholders to our business.
“We have a clear strategy for growth centred on growing market share, growing our existing W7 brand, as well as developing new lines and products. As a listed company we will be able to fast-track our growth plans and we look forward to updating our investors on our progress as we embark on the next stage of our exciting journey.”