Douglas sets share price ahead of IPO listing

European cosmetics retailer Douglas has set a price range for its shares ahead of an impending initial public offering (IPO) which it is expecting to begin trading from March 21 on the Frankfurt Stock Exchange.

The price ranges between 26 to 30 euros per share on around 32.7 million newly issued shares, bringing the IPO to a total offer size of up to 907 million euros.

According to Douglas, the price range implies a total market capitalisation of between 2.8 and 3.1 billion euros. The offer period is expected to begin March 12 and end March 19.

In a release, the company noted that CVC Capital Partners and the founding Kreke family would remain main indirect shareholders after the IPO and would not sell any shares during the process.

In addition to this, CEO of Gfk, Pamela Knapp, and Natura&Co. board member, Georgia Garinois-Melenikiotou, are to become new members of the supervisory board upon the first day of trading.

In a statement, Sander van der Laan, CEO of Douglas Group, said he viewed the listing as a sign that the company had “continued to make great progress” and is fully committed to further development.

Van der Laan continued: “With our strong business model and successful growth strategy, the Douglas Group is optimally positioned in a very attractive market. The deleveraging associated with the IPO will increase our financial flexibility and provide additional support for our successful development.”