By IPOdesktop:

Based in New York, NY, Coty (COTY) scheduled a $ 1 billion IPO with a market capitalization of $ 6.7 billion at a price range mid-point of $ 17.50 for Thursday, June 13, 2013.

  • S-1 filed May 28, 2013
  • Manager, Joint Managers: BofA Merrill; J.P. Morgan; Morgan; Barclays; Deutsche; Wells Fargo
  • Co-Managers: Lazard; Piper Jaffray; RBC Capital; BNP PARIBAS; Credit Agricole CIB; HSBC; ING; Moelis; RBS; Sanford C. Bernstein; Santander; Ramirez; Telsey Advisory; Williams Capital Group

SUMMARY

COTY’s beauty products portfolio includes very well-known names. The COTY IPO is a shareholder bailout with no proceeds going to the company.

OBSERVATIONS

COTY has a spotty financial record, in terms of sales and profits, and will be offering a dividend lower than its competition.

Revenue was flat for the March ’13 nine months vs. the March ’12 nine months, at $ 3.5 billion.

Profit did increase, however, to $ 230 million from $ 33 million after taking

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