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Beauty Mask Maker Said to Pick CICC, Goldman for Hong Kong IPO

  • Giant Biogene could raise up to $1 billion in a listing
  • Xi’an-based firm has developed a collagen technology

Xi’an Giant Biogene Technology Co. has selected banks for an initial public offering in Hong Kong that could take place as soon as this year, according to people familiar with the matter.

The cosmetics firm based in China’s Shaanxi province is working with China International Capital Corp. and Goldman Sachs Group Inc. on the proposed share sale that could raise as much as $1 billion, the people said, asking not to be identified as the information is private.