Revolution Beauty has confirmed it will float on London’s junior market with a £495m listing.
As of next week, the beauty brand of Adam Minto and Tom Allsworth will trade on the Aim index, London Stock Exchange’s international market for smaller growing companies, according to The Independent.
Founded in 2013, the skin care and make-up brand is a favourite among Gen Zs thanks to its affordable price tags and holds partnership deals with major retailers Boots, Beauty Bay and Asos.
Revolution said it intends to raise £110.7m through new shares, of which £20m will be pumped back into the business to fuel its market growth at home and abroad.
Existing shareholders (including Minto and Allsworth who own the majority) can look forward to a £190m injection from the company’s listing.
Upon its listing on Monday 19 July, both founders will give up some shares for the Initial Public Offering (IPO), retaining a 30% stake.
TSG Consumer Partners (TSG), Revolution’s minority shareholder, is expected to sell the majority of its holding.
“The IPO of Revolution Beauty marks a significant milestone in the company’s development and provides us with a solid platform to execute our exciting growth plans and take advantage of the significant opportunities for global expansion in a compelling growth market,” said Minto, who is also the business’ Chief Executive.
“We are delighted by the strong support from investors and we look forward to creating long-term value for our new shareholders as we look forward to our future as a public company.”
