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Coty Looks to Raise More Than $1 Billion with IPO
Posted: May 28, 2013
According to reports, Coty is expected to raise as much as $1.2 billion in an upcoming initial public offering (IPO). The company may sell up to 65.7 million shares of stock—with shareholders offering 57. million and underwriters having the option to buy 8.6 million—to be priced between $16.50 and $18.50.
Private equity firms Rhone Group and Berkshire Partners LLC each own a 7.1% stake in Coty, which reported a net profit of $230.3 million on revenue of $3.6 bllion for the nine months ending March 31, 2013. The company filed to go public in June 2012.