THE WHAT? Yatsen Holding raised some US$617 million in a US IPO, selling 58.75 million American depositary shares for US$10.50 each, according to a report published by Bloomberg.
THE DETAILS Shares have since risen rapidly in value, hitting US$18.40 at the end of last week, an increase of 75 percent on the opening price, which was already at the top of a marketed range, Bloomberg said. That places a value of US$7.82 billion on the Chinese owner of Perfect Diary.
THE WHY? With China’s economy well on the way to recovery and Yatsen’s brands predominantly sold via online channels, the owner of Abby’s Choice and Little Ondine is virtually 2020-proof, making it an attractive investment. What’s more, the company recently announced the acquisition of Galenic from Pierre Fabre and has ambitious expansion plans.