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US beauty giant Coty has filed for an initial public offering (IPO) which will see it sell shares to the public and raise as much as $1.06bn. According to the company’s Securities and Exchange Commission filing, its initial share offering includes 57.1 million shares at a per share price between $16.50 and $18.50.
Cotys IPO follows its failed attempt to acquire direct seller Avon for $10.7bn last year.