CVC-Owned Perfume Retailer Douglas Seeks $1.2 Billion in Listing

Perfume retailer Douglas is looking to raise as much as €1.1 billion ($1.2 billion) through a listing in Frankfurt, as private equity owner CVC Capital Partners bets on a rebound in European initial public offerings.

Douglas plans to raise about €800 million through selling new shares in the IPO and another €300 million via equity injection from existing shareholders, according to a statement on Monday. CVC doesn’t plan to sell shares in the offering and will continue to hold an indirect majority interest in Douglas, which will use the proceeds to reduce its debt.

The private equity firm is seeking ...