Coty Inc. has priced its initial public offering of 57,142,857 shares of its class A stock at a price of $17.50 per share. Coty’s class A common stock began trading on the New York Stock Exchange today (13 June 2013) under the ticker symbol “COTY”. The shares offered are being sold by existing Coty stockholders, and Coty will not receive any of the proceeds of the offering. These existing stockholders have also granted the underwriters an option for 30 days to purchase an additional 8,571,428 shares of class A common stock at the initial offering price less the underwriting discount.
BofA Merrill Lynch, J.P. Morgan Securities LLC, Morgan Stanley, Barclays, Deutsche Bank Securities and Wells Fargo Securities are acting as joint book running managers for the offering, while Lazard Capital Markets, Piper Jaffray and RBC Capital Markets are acting as lead managers. BNP PARIBAS, Credit Agricole CIB, HSBC, ING, Moelis & Company, RBS Securities Inc., Sanford C. Bernstein and Santander are acting as co-managers. And Ramirez & Co., Inc., Telsey Advisory Group and The Williams Capital Group, L.P. are acting as junior co-managers.