THE WHAT? Chinese e-commerce servicing firm, UCO Cosmetics is mulling floating on the Hong Kong stock exchange, according to a report published by Bloomberg quoting sources ‘familiar with the matter’.
THE DETAILS The IPO could fetch some $300 million and take place before the end of the year, Bloomberg reports. The company, which is backed by Citic Capital Partners is yet to progress the plan further than initial talks, however.
THE WHY? With e-commerce booming and China becoming an ever-more attractive market for foreign brands, UCO Cosmetics is presumably looking to fund future growth.