Shares in the Cheshire, England-based company opened at 279.1 pence on Friday, 3 percent higher than its offering price of 271 pence.

The early rise is a relief for the LSE, which dropped out of the top 20 exchanges at the end of the third quarter in a Bloomberg ranking of the world’s busiest IPO destinations. The exchange, regulators and government have undertaken a wide-ranging package of reforms in order to revive the market, which they now say makes the exchange more competitive.

“Put any listing jurisdiction side by side with London, particularly if you’re a company of £20 billion and below in size, London wins hands down,” Julia Hoggett, chief executive officer of the London Stock Exchange, said at Bloomberg’s Women, Money & Power summit in London on Wednesday.

London received another boost this morning with Liverpool-based packaged food company Princes Group Plc revealing its plans to seek an IPO in London. Shawbrook Group Plc, the British bank backed by BC Partners and Pollen Street, is considering announcing plans for an IPO as soon as the coming days, Bloomberg News reported on Wednesday.

The Beauty Tech Group makes technology for use at home, including a LED face mask used by the likes of Kim Kardashian and actor Cillian Murphy, according to its website.

By Eleanor Thornber

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