THE WHAT? The owner of Chando Cosmetics, Jala Group is said to be considering floating on the Hong Kong Stock Exchange. The Chinese beauty maker is working with Huatai International and UBS on the potential IPO.
THE DETAILS Bloomberg reports that the Shanghai-based firm could raise as much as US$500 million, quoting sources ‘familiar with the matter’ and is expecting to launch its first share offer in early 2024.
THE WHY? If Jala Group goes ahead, it would be the latest in a spate of listings by C-beauty firms in recent months with Giant Biogene and Chicmax both making their debut in the past year. Local brands are gaining in popularity across China as political fracas take the gloss of J-beauty and K-beauty.