Manufacturing Industry
Reflexion floats on AIM.(Hot Topic)(Reflexion Cosmetics on Alternative Investment Market of the London Stock Exchange)(Brief Article)
Cosmetics International, March, 2004
Reflexion Cosmetics, a new company set up to acquire under-performing beauty businesses, has floated on the Alternative Investment Market (AIM) of the London Stock Exchange.
Net proceeds of 375,000 [pounds sterling] were raised by a placing at the price of 13p per ordinary share.
"I am very pleased with the response to the flotation," said Ratan Daryani, ceo.
"We are confident that we have the right corporate strategy and management to develop the business moving forward. We will seek appropriate acquisitions to enable us to deliver value to our shareholders."
The company's strategy is to acquire contemporary brands that are affordable, but that have luxury and quality connotations. Reflexion currently has no trading businesses...
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