Lifestyle

Beauty products supplier Knowlton targets over $3 billion valuation in U.S. IPO

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Reuters

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Sep 14, 2021

Knowlton Improvement Corp Inc (KDC) mentioned on Tuesday it was trying to increase as much as $857.14 million by a U.S. preliminary public providing, valuing the producer for magnificence, private and residential care manufacturers at greater than $3 billion.

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The valuation, in line with a Reuters report in January on the corporate making ready for an U.S. IPO, was pegged at greater than $5 billion.

The Longueuil, Québec-based firm plans to promote roughly 57.14 million shares in its IPO, priced between $13 and $15 per share, in line with a regulatory submitting.

KDC has utilized to checklist its shares on the Toronto Inventory Trade as properly, the submitting confirmed. Its buyer base includes 18 of the world’s 20 largest magnificence, private care and residential care corporations worldwide, by way of prime retail gross sales in 2020.

The corporate, acquired in 2018 by an investor group led by buyout agency Cornell Capital, generated whole annual income of about $2.1 billion and posted a internet lack of $125.8 million for the yr ended April 30.

Goldman Sachs, J.P. Morgan, UBS Funding Financial institution and BMO Capital Markets are the lead underwriters for the providing, after which KDC will checklist on the New York Inventory Trade beneath the image “KDC”.

© Thomson Reuters 2021 All rights reserved.

https://us.fashionnetwork.com/information/Magnificence-products-supplier-knowlton-targets-over-3-billion-valuation-in-u-s-ipo,1333923.html | Magnificence merchandise provider Knowlton targets over $3 billion valuation in U.S. IPO

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