Douglas AG (Ticker: DOU GR) is a leading perfume and cosmetics retailer based in Germany, operating over 2,400 stores across 26 European countries. Founded in 1910, Douglas offers a wide range of premium beauty and personal care products through its extensive store network and online platform.

Douglas AG will list on the Frankfurt Stock Exchange on March 21, 2024. The firm is selling 32.69 million shares at the price range of EUR 26.00 to EUR 30.00. The expected market capitalization at offer is EUR 3.1 billion (USD 3.37 billion). The total offer size is EUR 980.77 million (USD 1.06 billion). The offering includes a primary offering of 100% of the shares and a secondary offering of 5.81% or 1.90 million shares.

The company plans to use the proceeds primarily for debt reduction, as Douglas had more than EUR 3 billion of net debt at the end of December 2023. The owners, CVC Capital Partners and the Kreke family, have committed to injecting around EUR 300 million of additional capital to bolster the group's balance sheet. The offering is managed by a consortium of investment banks, including Goldman Sachs, JP Morgan, and Deutsche Bank.