Business
Adore Beauty IPO fixed at 3.9-times revenue – afr.com
Stockbrokers Morgan Stanley and UBS have opened the books on Adore Beauty’s initial public offering.
Morgan Stanley’s team suggested it was worth 4.1-times to 5.5-times, or $651 million to $870 million.
Funds were told demand exceeded supply at the 3.9-times mark.
If successful, Adore Beauty would be the largest IPO in Australia so far this year by funds raised and market capitalisation.
It comes as a raft of float contenders pitch funds to secure their own listings, including bigwigs Dalrymple Bay Infrastructure, Nuix and HWL Ebsworth, which are each expected to be worth more than $1 billio…
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