Reports emerged that the luxury brand’s controlling shareholder may take the company private.
L’Occitane’s Hong Kong IPO raised over US$700 million in 2010, fuelled by China’s consumer market optimism.
The luxury retailer, known for its skincare products and fragrances, raised more than US$700 million in its Hong Kong initial public offering in 2010, buoyed by optimism over the booming Chinese consumer market. L’Occitane International SA announced on Monday that its Hong Kong-listed stocks will be suspended “pending the publication of an announcement pursuant to the Code on Takeovers and Mergers”, according to an exchange filing.
L’Occitane’s stock price was flat for the first half of the year before spiking around 40% in late July.
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