Company News, Financial News

Coty To Raise $1.2 Billion

IPO priced between $16.50-18.50 a share.

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By: TOM BRANNA

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Coty Inc said it expected its initial public offering of up to 65.7 million shares to be priced at between $16.50 and $18.50 each, raising as much as $1.2 billion. The company said shareholders are offering 57.1 million shares, while underwriters have the option to buy 8.6 million. Coty, which failed in an attempt to buy Avon Products Inc or $10.7 billion last year, filed to go public in June. Warren Buffett's Berkshire Hathaway Inc and private equity firm Rhone Group each own a 7.1 stake...

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