Revolution Beauty, which debuted a £300m placing on London’s junior market today, has seen its shares plummet over four per cent.
With its ordinary shares listed at 160p per piece, the company’s valuation is around $495m.
The British beauty group began trading at 08:00 under the ticker REVB after an oversubscribed fundraiser last week.
Revolution, which partners with Superdrug and Boots, saw its latest capital rally raise £110.7m. A further £189.3m was raised for selling shareholders.
“Admission to AIM is an extraordinary stage in our journey and reflects our exceptional growth to date, global presence and significant prospects,” beauty boss Adam Minto said.
“There remains a considerable opportunity and we are now in the best possible position to broaden our global reach.”
The brand generated £157.6m in revenue in the fourteen months to 28 February.