Douglas will premiere this Thursday, March 21st Frankfurt Stock Exchange. With a market capitalization of 2.8 billion euros, the German perfumery chain controlled by the investment fund CVC Capital Partners has set its price at 26 euros per share.
«Along with his Shareholder Kirk Beauty International, a holding company majority owned by funds advised by global private equity firm CVC Capital Partners, as well as the Kreke family, Douglas has set the final price of the offer at €26.00 per share set“, the company announced. In this way the fixed price becomes Lower limit of the range from 26 to 30 euros announced March 11th.
The company announced that a total of 34.2 million shares had been placed with investors 32.7 million are newly issued securities and 1.5 million are existing Kirk Beauty International shareswhich will enable the parties to the investment programs to cover their tax obligations in connection with the IPO.
Douglas and its main indirect shareholders – CVC and the Kreke family – have already agreed to a standard period of 180 calendar days after the company’s shares begin trading, during which they cannot sell their shares. With this in mind, the company has clarified this After the IPO, they remain the main owners of the multinational corporationas they do not get rid of any of their shares in the transaction.
It is estimated that they will take control 54.4% in the case of CVC Capital Partners and 10.2% in the case of the Kreke family. The overall size of the The initial public offering (IPO) amounts to around 890 million euroswith Douglas’ gross sales of around 850 million euros, which corresponds to a market capitalization of around 2.8 billion euros.
«The great investor interest in the Douglas Group underlines the extraordinary work our team has done in recent months. We look forward to further driving our long-term growth with our “Let it Bloom” strategy to better meet the needs of our customers and offer a unique range of the most relevant and distinctive brands.“, has explained Sander van der Laan, Douglas CEO.
After the IPO is completed the “free float” is expected to be around 31.8%. The trading symbol under which Douglas will trade on the stock exchange on March 21 is DOU. The Liquidation and closure of the offer scheduled for March 25, 2024.