Douglas seeks up to 30 euros: In one of the first big initial public offers (IPOs) in Europe this year, German perfume retailer Douglas said on Monday that it would sell shares at a price range of 26 to 30 euros ($32.8).

Douglas seeks up to 30 euros

In order to reach their goal of 907 million euros, the company and its management plan to issue fresh shares of stock.

A market capitalization of up to 3.1 billion euros would result from this.

The Kreke family and CVC Capital Partners will begin trading the company’s shares on the Frankfurt Stock Exchange on March 21, according to the company’s plans.

The sale’s proceeds will go toward paying off the business’s debt. The group’s financial sheet will be strengthened by the owners’ commitment to infuse around 300 million euros of additional cash.

The most recent quarterly reports show that as of the end of December, the group’s net debt was above 3 billion euros (opens new tab).

Amidst rising hope that Europe’s battered IPO market might be recovering from two years of subdued deal activity, Douglas is making an effort.

A number of companies, including the Swiss skincare company Galderma, as well as others, such as the Spanish fashion conglomerate Puig and the Italian sneaker manufacturer Golden Goose, are planning to go public in the next few months.