New small cap play to debut on AltX after B&B Media buys out Imbalie Beauty
The targeted company will transfer its assets into a new privately held vehicle called iBloom
A little-known marketing and advertising company called B&B Media is taking over Imbalie Beauty, a small cap listed on JSE-owned AltX which runs beauty franchises and skincare brands and also provides education to beauty therapists in the industry.
A statement posted on Sens on Thursday by Imbalie Beauty, which has a market value of about R27.7m, said that B&B Media had bought out 61.26% of the company at a price of 0.9c a share. That equates to an about R7.63m price tag for the 61.26% stake, which is held by the company’s big shareholders, including Imbalie CEO Esna Colyn, Holistics Remedies, SA Madiba Investments and Unihold Group...