Yatsen Holding Limited, a cosmetics and skincare producer, raised $617 million by offering 58.8 million ADSs at $10.50, the high end of the proposed range of $8.50 to $10.50.
The company have launched three color cosmetics and skincare brands which served 23.4 million and 23.5 million DTC customers in 2019 and the nine months ended September 30, 2020, respectively.
The Guangzhou, China-based company was founded in 2016 and booked $658 million in sales for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol “YSG.” Goldman Sachs, Morgan Stanley, CICC and Tiger Brokers are underwriters of the IPO.
The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and PricewaterhouseCoopers Zhong Tian LLP as Independent Auditor.
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