Maybelline Has Heads TurningLeah Nathans Spiro
At first glance, it looks as if nobody on Wall Street is in the market for nail polish and lipstick. After all, it was only last July that glitzy Revlon Group had to yank a $400 million initial public offering--even after lowering its offering price from $19 to $14 a share. To boot, the broad market for IPOs keeps slowing down. Nonetheless, on Oct. 9, No. 2 cosmetics maker Maybelline Inc. filed a registration statement with the Securities & Exchange Commission, saying it plans to sell some $83 million in stock, or 20% of the company, to the public.
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