L'Occitane Raises $707M In Hong Kong IPO

Law360, New York (April 30, 2010, 2:51 PM EDT) -- High-end cosmetics company L'Occitane International SA reportedly raised HK$5.5 billion (US$707 million) Friday in the first initial public offering by a French company on the Hong Kong stock exchange.

The company sold a 25 percent stake of 364.12 million shares at HK$15.08 each, the Financial Times reported, citing someone familiar with the deal. That amount was at the high end of what L'Occitane had expected to raise, saying before the offering that its price range ran between HK$4.69 billion to HK$5.49 billion.

The Provence, France-based company...
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