Yatsen Holding, which produces cosmetics under the brands Perfect Diary, Little Ondine, and Abby's Choice in China, filed on Friday with the SEC to raise up to $100 million in a US initial public offering.
Yatsen currently competes in the rapidly evolving China beauty market. Founded in 2016, the company has launched three color cosmetics and skincare brands: Perfect Diary, Little Ondine, and Abby’s Choice. Together, these three brands served 23.5 million direct-to-consumer customers in the nine months ended September 30, 2020 and have produced rapid y/y sales growth of 377% for the company.
The Guangzhou, China-based company was founded in 2016 and booked $658 million in sales for the 12 months ended September 30, 2020. It plans to list on the NYSE under the symbol YSG. Yatsen Holding filed confidentially on August 18, 2020. Goldman Sachs, Morgan Stanley, CICC and Tiger Brokers are the joint bookrunners on the deal. No pricing terms were disclosed.
The article Chinese cosmetics producer Yatsen files for a $100 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
