No flies on sexy Adore Beauty, rapid IPO planned - The Australian Financial Review

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Adore Beauty's expected to seek to raise $200 million to $250 million for a $600 million-plus valuation.

Sponsor broker Morgan Stanley's analysts helped the cause with a $651 million to $870 million price tag in their pre-deal report, implying 4.1 times to 5.5 times forecast revenue for the 2020 calendar year.

Quadrant's expected to sell part of its stake at the IPO, only one year after buying in. Fundies seem to be taking that fact in their stride.

Quadrant dealmaker Justin Ryan will retain the chairman's seat to try to signal his firm's commitment, while company founders Kate Morris and husband James Height will also remain heavily involved. Seek executive Tennealle O'Shannessy was recently appointed Adore Beauty CEO.

Fund managers were told the current timetable had Adore hitting the ASX-boards in early November, if not sooner.

It comes as a bunch of other listing hopefuls ramped up their pitch to potential investors on Monday.

Candle retailer Dusk - another asset out of private equity - mapped out of a $70 million IPO at $2 a share for a $124.5 million market capitalisation. Stockbrokers Canaccord Genuity and Shaw and Partners are seeking bids from clients this week.

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