Dusseldorf: German perfume retailer Douglas plans to kick off an initial public offering (IPO) as soon as this month, people familiar with the matter say, as owner CVC Capital Partners seeks to capitalise on a hoped-for rebound in equity capital markets.
Douglas is discussing selling about 1bil in new stock and plans to use the proceeds to pay down debt, said the people, who asked not to be identified because the matter is private. CVC is also considering selling existing shares in the offering, one of the people said.
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