Douglas is said to be eyeing a potential IPO listing in the first quarter of 2024 in what would be a major test of the European stock market at the beginning of the year.
The German cosmetics retailer is understood to be preparing the release of its earnings over the Christmas period within the coming weeks, in which it is expected to outline details of a potential listing on the Frankfurt Stock Exchange in March, sources for Reuters said.
Such a listing would possibly secure a seven billion euro valuation for the private equity-backed company, a person familiar with the matter told the media outlet.
It was warned that no final decision had been made on the move, and that IPO could possibly be delayed. Douglas had declined to comment on the matter, Reuters added.
Proceeds from the listing could potentially be used to help pay off debt for Douglas, which had amounted to a net total of 3.4 billion euros according to the company’s financial report at the end of September.
In December, however, the retailer closed the 2022/23 financial year with adjusted sales of 4.1 billion dollars, up 12.1 percent compared to the year prior.
This was led by a 13 percent increase in store sales and a 10.3 percent increase in e-commerce sales, while its EBITDA also was up 22.3 percent.
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