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China Beauty Firm to Pick Goldman, Morgan Stanley for IPO

  • Perfect Diary cosmetics maker weighing Hong Kong listing
  • Yatsen Global is aiming to raise as much as $500 million
Perfect Diary cosmetics

Perfect Diary cosmetics

Source: Perfect Diary

The Chinese company behind the fast-growing Perfect Diary cosmetics brand has picked Goldman Sachs Group Inc. and Morgan Stanley to prepare for a potential initial public offering, according to people familiar with the matter.

Guangzhou Yatsen E-Commerce Co., or Yatsen Global as it is known, aims to raise $400 million to $500 million in an offering, which could happen as soon as the end of this year, the people said. It has been considering Hong Kong among potential listing venues though no final decision has been made, said the people, asking not to be identified as the matter is private.