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Revolution Beauty to make stock market debut

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Revolution Beauty are plotting a float on London’s alternative markets valuing the company at nearly half a billion pounds.

The float has received strong support from shareholders and was significantly oversubscribed, the UK-based firm said this morning.

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Adam Minto, the beauty firm’s boss and founder, called it “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.”

The personal care and beauty brand have confirmed a cornerstone investment with Jupiter Asset Management who pledged £90m towards the float earlier this year.

The firm, founded in the Isle of Sheppey 2014, sells through high-street and online retailers including Asos.

The estimated total market capitalisation is £495m based on the Placing Price, which stands at 160 pence per share.

On admission to AIM, the beauty company will have over 300 million Sale Shares which proceeds are expected to rise for shareholders and New Shares is also expected to raise proceeds of £110.7m.

Zeus Capital, an investment banking operation, will act as the companies Nominated Advisor and Broker.

Trading on AIM, a market operated by London Stock Exchange plc, is to begin on the morning of July 19.

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