Dusseldorf-based Douglas has been building out a network of more than 1,800 stores in 22 countries and expanding its e-commerce offerings across Europe. The company may appeal to investors looking for a pure-play investment in higher-end beauty products. Douglas’s biggest rival, Sephora, is owned by LVMH, the French luxury giant that also owns brands ranging from Hennessy Cognac to Dior fashion.
The offering will be a big test of investor appetite for new equities, and if it succeeds, it could lure additional companies to come to market.
New listings slowed over the past two years as the surge in interest rates dented demand for IPOs. Now, there’s a nascent rebound as central banks end their rate increases and stock markets rise to record highs. EQT AB plans to kick off the listing of skin-care business Galderma in Switzerland as soon as this month, Bloomberg News reported last week.
CVC doesn’t plan to sell shares in the offering and will continue to hold an indirect majority interest in Douglas, which will use the proceeds to reduce its debt. The company plans to refinance its remaining borrowings in connection with the IPO.
Read more: Yahoo Finance
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