- Beauty products group Revolution Beauty made a disappointing sharemarket debut in London after raising £300 million from initial public offering.

In early dealings, the shares were trading at 150.5p, down 8.8% from the 160p offer price.

The IPO had given the company an initial market capitalisation of around £495 million.

'Today is an extremely proud day for all associated with our business and, in particular, our 220 employees who have worked hard to get us where we are today,' chief executive and co-founder Adam Minto said.

'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.'

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