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Shares fall—but hopes are high.
June 14, 2013
By: TOM BRANNA
Editor
Shares of beauty products company Coty dropped in their first day of trading on the New York Stock Exchange. According to reports, the shares slipped 14 cents to close at $17.36 Thursday after falling as low as $16.90 earlier. Coty Inc.'s initial public offering of about 57.1 million shares raised nearly $1 billion for some of its stockholders. The offering priced at $17.50, the midpoint of its projected range of $16.50 to $18.50 per share. Coty won't receive any proceeds from the of...
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