Fragrance and cosmetics company Coty sets terms for $1 billion IPO


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Coty, a fragrance and cosmetics company with several globally recognized brands, announced terms for its IPO on Tuesday. The New York, NY-based company plans to raise $1 billion by offering 57.1 million shares (100% insider) at a price range of $16.50 to $18.50. At the midpoint of the proposed range, Coty would command a fully diluted market value of $6.9 billion. Coty, which was founded in 1904 and booked $4.6 billion in sales for the 12 months ended March 31, 2013, plans to list on the NYSE under the symbol COTY. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley, Barclays, Deutsche Bank and Wells Fargo Securities are the joint bookrunners on the deal.

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This article appears in: News Headlines , IPOs

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