Chicmax, Chinese cosmetics maker, plans IPO in Hong Kong

Chicmax, Chinese cosmetics maker, plans IPO in Hong Kong

Details of the offering such as fundraising amount and timing are still preliminary and subject to change, the people said. Representatives for CICC, Citic Securities and JPMorgan declined to comment, while Chicmax didn’t respond to an email for comment.

Chinese beauty care products producer Shanghai Chicmax Cosmetic Co. is planning an initial public offering in Hong Kong when this year, as per individuals familiar with the matter. Shanghai-based Chicmax is working with China International Capital Corp., Citic Securities Co. and JPMorgan Chase and Co. on the proposed share deal that could raise a few hundred million dollars, individuals said, asking not to be recognized as the data is private. The organization is aiming to file a prospectus in the coming weeks, individuals said.

Chicmax had previously considered a listing on the Shanghai stock exchange, according to a document from Citic Securities, which worked as its pre-IPO consultant last year. The cosmetic manufacturer later shifted the listing plan to Hong Kong, the people said.

Founded in 2002, Chicmax manufactures cosmetics under brands such as Kans, One Leaf and Bio-G. In 2015, the company brought in investors including Citic Capital and New Alliance Capital in a Series A funding round, according to the company’s website.

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