L’Occitane to Raise HK$5.49b In Hong Kong IPO
French-based skincare and fragrance products company L'Occitane (0973.HK) plans to raise HK$5.49 billion in its Hong Kong initial public offering (IPO) with a first day of trading of its stock scheduled for May 7, linkshop.com.cn reported May 5 citing an unnamed source. China's sovereign wealth fund, China Investment Corporation, purchased stock in the company worth $50 million, according to the report.
L'Occitane currently operates 46 stores in China, National Business Daily reports.
Previous reports said L'Occitane would issue 364.12 million shares at up to HK$15.08 per share.
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