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China Daily Website

China's Herbalcos Intl plans $24m AIM listing

Updated: 2012-09-13 13:29
( Agencies)

Beauty products maker Herbalcos International Group Ltd said it expects to raise up to 15 million pounds ($24.09 million) through a listing on London's junior market AIM.

The company, whose clients include Wal-Mart Stores Inc and Elizabeth Arden Inc, said it expects to use the proceeds from the offering to expand its facilities and launch new products.

The company, which began trading as an original equipment manufacturer for foreign companies, is also targeting China's domestic market with its "Julang" branded shampoo and shower gels.

"Our ambition is to become a dominant multi-brand business in the cosmetic and consumer care markets in China," said Executive Chairman Charles Liu, who founded the company in 2000.

The company reported sales of 437.6 million yuan ($69.08 million) and pretax profit of 128.6 million yuan for the year ended Dec 31, 2011.