CVC-Owned Beauty Chain Douglas Seeks $1.2 Billion in Listing
- IPO comes as appetite for new stocks in Europe improves
- CVC bought the perfume retailer in 2015 for about €2.8 billion
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Perfume retailer Douglas is looking to raise as much as €1.1 billion ($1.2 billion) through a listing in Frankfurt, as private equity owner CVC Capital Partners bets on a rebound in European initial public offerings.
Douglas, a well-known chain on European shopping streets, plans to raise about €800 million by selling new shares in the IPO and another €300 million via an equity injection from existing shareholders, according to a statement on Monday. CVC is seeking a valuation of more than €7 billion for Douglas, Bloomberg News reported in August.