Beauty and wellness business EZZ Life Science is listing on the Australian Securities Exchange today after an oversubscribed, $6 million initial public offer.
The business will trade under the ticker code EZZ, and was valued at $21 million following the issue of 12 million shares at 50c each.
Funds raised through the IPO will be used to accelerate growth, and assist in the implementation of EZZ’s strategic goals – such as improving its manufacturing and bringing it in house, expanding its international distribution, and establishing a bespoke retail presence.
“We’re extremely happy to have closed our IPO oversubscribed and welcome the strong interest by prospective shareholders,“ said chief executive Fernando Rodriguez.
“Our growth strategy as a public company is robust and multifaceted. The combination of market penetration [and] expansion, value chain integration and digital transformation is expected to accelerate revenue growth and improve cost efficiencies and lift profit margin.”
The business acts as the wholesale distributor of the EAORON branded products, as well as its own EZZ branded products.