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Beauty Products Supplier Knowlton Targets Over $ 3 Billion In US IPO

NS

Reuters

Published



September 14, 2021

Knowlton Development Corp Inc (KDC) aims to raise up to $ 857.14 million through an initial public offering in the United States on Tuesday, valuing beauty, personal and home care brand makers as over $ 3 billion. He said he was.

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A valuation was fixed at over $ 5 billion, according to a January Reuters report on companies preparing for a US IPO.

The company, based in Longueuil, Quebec, will sell approximately 57.14 million shares in its IPO at a price of $ 13 to $ 15 per share, according to a regulatory filing.

KDC has also applied to list its shares on the Toronto Stock Exchange, Filing said. Its customer base will be retail sales in 2020 and will consist of 18 of the 20 largest beauty, personal care and home care companies in the world.

Acquired in 2018 by a group of investors led by buyout firm Cornell Capital, the company had total annual revenues of approximately $ 2.1 billion and net losses of $ 125.8 million for the year ended April 30.

Goldman Sachs, JP Morgan, UBS Investment Banking and BMO Capital Markets are the main underwriters for this offering, after which KDC will be listed on the New York Stock Exchange under the “KDC” symbol.

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Beauty Products Supplier Knowlton Targets Over $ 3 Billion In US IPO

Source link Beauty Products Supplier Knowlton Targets Over $ 3 Billion In US IPO

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