Revolution Beauty eyes float on London’s junior market
Makeup group Revolution Beauty is plotting a float on the London Stock Exchange’s junior AIM market, it said in a statement today, having agreed to a £90m share placement.
Expected to take place in July, the float will see Jupiter Asset Management pledge the £90m.
A final figure for the float is yet to be confirmed, however, PA reported the IPO could reach £500m.
“Today marks a significant milestone for Revolution Beauty and our people,” founder and CEO of Revolution Beauty, Adam Minto, said.
Revolution Beauty, which partners with Superdrug and Boots, generated £157.6m in revenue in the fourteen months to 28 February 2021.
The makeup group plans to use the net proceeds for the businesses growth and to incentivise the management team, it said.