Shares dip as Revolution Beauty makes its London debut

The retailer, which has joined Aim, the London Stock Exchange's junior market, was trading 6% lower at 154.79p by 1400 BST, having come back from an earlier low of 150.0p. The initial public offering was priced at 160.0p, giving the firm a market value of £495.0m.

Revolution Beauty, which was founded by chief executive Adam Minto and executive chairman Tom Allsworth in 2014, said the debut had enabled it to raise £110.7m for the company and £189.3m for the selling shareholders.

Minto and Allsworth have retained a 30% stake, but minority shareholder TSG Consumer Partners is understood to have sold its entire holding.

Said Minto: “There remains a considerable opportunity and we are now in the best possible position to broaden our global reach and deliver against our significant growth prospects in a beauty market that has very compelling dynamics for an agile and inclusive business like ours.”

Allsworth said that joining Aim was an “important step” for the company.

Zeus Capital has been appointed nominated advisor and sole broker.