Coty IPO to watch: The world’s largest fragrance company and cosmetics giant Coty submitted IPO application to the U.S. Securities and Exchange Commission (SEC) finance $ 700 million, in order to list its common stock on the New York Stock Exchange under the symbol “COTY“, to raise funds of $700 million at most.
Coty was founded by Francois Coty in Paris France in 1904 and currently is headquartered in New York. Francois Coty was world-renowned for founding the modern fragrance industry. Coty is one of the world’s top five cosmetics company, and the world’s largest fragrance company, which owns the world’s second-largest cosmetics brand rimmel and about 30 international daily use product brands including Adidas personal care products series.
As of the fiscal year 2011 ended June 30, 2011, Coty grew revenue by 17.34% to $4.086 billion, gross profit by 21.75% to $2.446 billion, operating profit by 52.17% to $280 million, net profit by 3% to $89.9 million.
Bank of America Merrill Lynch, JP Morgan Chase and Morgan Stanley are acting as the lead underwriters of the Coty IPO.
Read the related article: Coty IPO registration statement summary.