Chinese beauty company Yatsen Holding, which is the parent company of Perfect Diary, filed for an IPO on the New York Stock Exchange, according to CX Tech.
Previously: The Hut Group (THG) $2.4B IPO Breaks Record
Yatsen reportedly will use the proceeds from the IPO to make investments, acquisitions, develop new products and data analytics technology, open new physical stores and maintain daily business operations.
It is unknown how much money Yatsen plans to raise from the IPO.
According to CX Tech, Yatsen closed a funding round led by Warburg Pincus, The Carlyle Group and Loyal Valley Capital, which increased its valuation from $2.5 billion to $4 billion in April.
Yatsen reportedly has over 200 stores across China and serves 2.5 million direct-to-consumer customers.