SALON FRANCHISOR:
Rights issue to aid Imbalie liquidity
AltX-listed salon franchisor Imbalie Beauty intends to raise nearly 40% of its market capitalisation to bolster its business amid rising competition. Imbalie announced a proposed rights issue on Monday to raise R15m by issuing 750-million shares at 2c per share. It is the company’s third rights offer since listing in 2007. The small-cap company markets and distributes its own and independent health and beauty brands to its franchised beauty salons, as well as to large retailers, independent beauty salons and pharmacies. It has three main salon brands: Placecol Skin Care Clinics, Dream Nails Beauty Salons and Perfect 10 Nail and Body Studios with more than 150 beauty salons nationally.
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