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Kate Morris Adore Beauty
Aussie beauty marketplace Adore Beauty has lodged its prospectus with the Australian Securities and Investments Commission, as it heads for an IPO worth $269.5 million.
The offer values the business at $614.8 million, and gives it an opening market cap of $635.3 million, based on an initial offer price of $6.75 per share.
Adore Beauty will trade under the ASX code ABY.
In an Instagram post, co-founder and executive director Kate Morris, who launched the business out of her garage some 20 years ago, said she “would never, ever, EVER have dreamed that @adorebeauty would make it onto the ASX”.
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Well this has been one hell of a lockdown project!! 20 years ago in my garage, I would never, ever, EVER have dreamed that @adorebeauty would make it onto the ASX. I am so very proud