Featured in the Oz today -- hopefully brings some fresh eyes on the stock
Bod lifts on float as eyes turn to Asia
ELI GREENBLAT
The Australian7:59AM October 28, 2016
Shares in skincare and healthcare developer Bod Australia listed at a 35 per cent premium to its 20 cents per share offer price yesterday, with the group seeking to grab a slice of the fast-growing $1.8 billion Australian skincare sector as well as eyeing off a push next year into China.
Helping Bod (BDA) secure its goals, especially offshore, will be several former sales executives from highly successful infant milk powder producer Bellamy’s Organic, including former national sales manager John Gilder as the newly listed group targets Chinese personal shoppers, or ‘Daigou’, to ramp up sales of its range of skincare, superfoods and supplements.
The initial public offer of 30 million new shares was raised at an indicative market capitalisation of $9.1m and is the latest achievement for founder and Sydney entrepreneur Jo Patterson.
Ms Patterson, now chief executive of Bod, told The Australian after its listing ceremony in Sydney that Bod would target the lucrative markets of Asia including China for its products.
“It’s about Australia and Asia, and while we are not exporting yet we are about to export to Asia and there is a huge demand from China for ‘clean and green’ products, they want not just skin care solutions but they want whole health solutions that are natural.
“We are seeing a real demand for niche brands in beauty and personal care, with consumers willing to pay a premium for such products if they are viewed as credible and effective,” Ms Patterson said.
Bod opened at 27 cents and hit a high of 30 cents before closing at 29.5 cents.
Bod develops and distributes natural skincare and healthcare products, currently having exclusive distribution rights to the Dr Roebuck’s range in Australia, New Zealand and China and Bioeffect brands in Australia.
Bod will also be launching its own brands across baby skin care and natural remedies for ‘brain health’ such as supplements to enhance memory and concentration.
According to its prospectus, it had sales of $138,020 in 2016 and posted a loss of $283,802.
BDA Price at posting:
27.0¢ Sentiment: Buy Disclosure: Held
