L'Occitane raises $708 million in Hong Kong IPO

The offering is “very significantly oversubscribed” by institutional investors from both Asia and the West.

L'Occitane raises $708 million in Hong Kong IPO

L'Occitane International, the cosmetics and skincare producer and retailer, has raised $708 million from the first Hong Kong initial public offering by a French company after pricing its shares at the top of the indicated range.

The institutional offering was very significantly oversubscribed by investors from both Asia and the West, while the retail tranche was about 159 times covered, sources said. The latter led to a clawback that increased the size of the retail tranche to 50% of the...

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