After trying once before, the cosmetics maker Coty is set to finally become a public company.
The company, whose products run from Sally Hansen nail polish to perfumes endorsed by Beyoncé and Katy Perry, priced its initial public offering at $17.50 a share on Wednesday, in the middle of its expected range of $16.50 to $18.50.
The stock sale values the company at about $6.7 billion.
The offering, which raised just less than $1 billion in proceeds, is one of the three biggest initial offerings in the United States this year, according to data from Renaissance Capital.
With Wednesday’s sale, Coty completed an effort it began several years ago with a few detours along the way. Among them was the company’s aborted takeover bid last year for a larger rival, Avon Products.
Coty’s selling shareholders sought to take advantage of a burgeoning market for stock offerings amid a healthy rise in equity market valuations this year.
The company’s owners are also betting on a revival of consumer confidence, with customers increasing their purchases of higher-ticket perfumes and nail polishes. According to a Euromonitor survey cited in Coty’s prospectus, the company’s main sectors are expected to grow 3 percent to 4 percent a year through 2016.
Coty reported $258.1 million in net income for the nine months ended March 31, up more than fourfold compared with results in the period a year earlier, though its revenue was roughly flat at $3.59 billion.
Founded by a French perfumer 108 years ago, Coty has become a significant player in the global cosmetics market. It already has a strong hold in the perfume market, especially in the realm of licensed fragrances from the likes of Calvin Klein, Marc Jacobs and Chloé.
And through a string of deals for companies like OPI and TJoy of China, it has broadened both its product offerings and its reach. Coty now sells its wares in more than 130 countries, with an increasing emphasis in emerging markets like Brazil and China.
That international push was one of the main drivers behind the company’s $10.7 billion bid for Avon last year. Despite being roughly half the size of its target, Coty argued that it could bring a strong management team to its embattled rival.
Yet despite securing the backing of Berkshire Hathaway, Coty was unable to convince Avon of the merits of a merger and withdrew its takeover bid last spring. Soon afterward, it filed for an initial public offering.
Wednesday’s stock sale will finally open the path to an exit for Coty’s primary owners, the wealthy Reimann family of Germany. Through its investment vehicle, Joh. A. Benckiser, the family bought the company in 1992 and spearheaded its expansion.
Coty had contemplated going public two years ago but held off because of volatile market conditions.
Coty’s other primary shareholders, the investment firms Berkshire Partners and Rhone Capital, will also sell shares in the offering.
The investors will still retain control of Coty even after selling some of their shares, however. Their remaining holdings will be converted into Class B stock, each share of which will carry 10 votes. All told, the three will control nearly 98 percent of the company’s voting power after the I.P.O.
The company’s shares will begin trading on Thursday on the New York Stock Exchange under the ticker symbol “COTY.â€
Its offering was led by Bank of America Merrill Lynch, JPMorgan Chase and Morgan Stanley.
