Coty is seeking to raise about $700 million in its forthcoming initial public offering, a person briefed on the matter said on Tuesday, as the cosmetics maker moves forward with its market debut.
The company will likely seek to go public within the next month, people briefed on its plans said.
Coty, which first filed to go public last May, has considered an I.P.O. for some time. But it put aside those plans last year to pursue a $10.7 billion hostile bid for Avon Products Inc., its much bigger rival.
Despite having the backing of Coty’s parent, Joh. A. Benckiser, and no less than Berkshire Hathaway itself, the offer failed amid strong opposition from Avon’s board. Within days of withdrawing the offer, Coty lined up investment banks to prepare an initial public offering.
But it put those plans on hold last year amid the whipsawing of the markets. With major stock indexes reaching record highs, the company will try again to pull off an I.P.O.
Over its 108 years, Coty has grown from perfumes into a global purveyor of fragrances and high-end nail polishes, with products endorsed by the likes of Beyoncé and Jennifer Lopez.
Its offering is being led by Bank of America Merrill Lynch, JPMorgan Chase and Morgan Stanley.
News of the potential size of the offering and its timing was reported earlier by The Financial Times online.
