Industry Newsroom

L Catterton-Backed Marubi Raises USD122 Million in IPO

China-based cosmetics and skin care products supplier Guangdong Marubi Biotechnology has raised CNY841 million (approximately USD122 million) in its initial public offering (IPO) on the Shanghai Stock Exchange. The company sold 41 million shares at a price of CNY20.5 per share (USD2.98) in the offering. Marubi is backed by global consumer-focused private equity fund manager L Catterton, which did not dispose of any shares in the IPO.