The private equity house is currently meeting with potential investors according to Danish newspaper Berlingske Tidende, which said the listing could go ahead by the end of June.
CVC bought into Matas in 2007. The company, which sells branded and own-brand beauty products, had a turnover of DKK3.1bn ($537m) in the 2011/12 financial year, the newspaper added.
The IPO would mark the latest exit for CVC as it looks to raise up to €11bn for a new buyout fund.
CVC Capital Partners was reportedly in talks with investors about raising the vehicle last November in a “soft marketing” process.
The firm is currently trying to sell Spanish salon products company Colomer Group after 13 years of ownership.
CVC has hired advisory firm Michel Dyens & Co to market the business according to the Wall Street Journal, which cited people familiar with the matter.
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