Mao Geping Cosmetics (HKG:1318) launched its initial public offering in Hong Kong, seeking to raise as much as HK$2.10 billion.
The cosmetics company is offering 70,588,200 shares at HK$26.30 to HK$29.80 apiece.
Mao Geping Cosmetics secured LVC, CPE Investment, Brilliant Partners Fund LP, China Core Fund, and Mega Prime as cornerstone investors, who committed to subscribe for $100 million of IPO shares.
Mao Geping will determine its offer price on Dec. 8 and disclose the allocations on Dec. 9. It will then start trading on the Hong Kong bourse on Dec. 10, according to a Monday filing.
Proceeds from the deal will be used to expand the sales network, increase branding, overseas expansion and acquisitions, and general corporate purposes.
CICC, China Galaxy International, Huatai International, Gotai Juan International, and CCB International are the joint bookrunners of the IPO.
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