Adore Beauty IPO set to raise A$250 million

Adore Beauty IPO set to raise A$250 million

THE WHAT? Quadrant Private Equity is planning to list online shopping platform Adore Beauty, and the deal is expected to be Australia’s biggest retail IPO in five years, according to a report published by Reuters.

THE DETAILS The listing is expected to raise some A$250 million, and is being managed by Morgan Stanley and UBS, Reuters revealed, quoting anonymous sources, valuing Adore Beauty at approximately A$700 to A$800 million.

THE WHY? As a result of COVID-19 lockdowns, online retail has become hot property; Quadrant is cashing in while sentiment is bullish in the tech and e-commerce sectors, Reuters said.

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