$700 Mil for Coty IPO

Posted on May 9, 2013 @ 10:29 am

It is expected that nearly $700 million will be raised for Coty's initial public offer. The company is expected to go public by next month.

Coty has had plans to go public for a while, but postponed them when it made a bid for Avon Products, which was opposed by Avon's board. After withdrawing its offer, Coty decided to seek outinvestment banks for an IPO, taking advantage of stock indexes, which have been at record highs.

This offering is being led by JP Morgan Chase, Morgan Stanley and Bank of America Merrill Lynch.