Nasdaq Dominates IPO Landscape in 2023, Outshining NYSE
Nasdaq leads the IPO market in 2023, outperforming NYSE for the sixth consecutive year, with expectations for continued growth in 2024.
Japanese personal-care company FineToday Holdings Co. is gearing up for a potential initial public offering (IPO) in Tokyo, with plans to select banks for the process. The IPO could occur as early as the end of this year, with expectations to raise up to $1 billion.
FineToday was established in 2021 after being spun off from Shiseido Co.’s personal-care products division. The company has since positioned itself as a significant player in the personal-care market, focusing on innovative products and sustainable practices.
Earlier this year, Shiseido sold its 20% stake in FineToday to Oriental Beauty Holding, an entity backed by CVC Capital Partners, although the financial details of the transaction were not disclosed.
According to sources familiar with the matter, FineToday has selected several banks to lead the IPO process. The lead underwriters for this anticipated offering include:
The company is reportedly looking to raise as much as $1 billion, with a valuation target between $2 billion and $3 billion. However, the specifics regarding the size and timing of the IPO are still under consideration, and no final decisions have been made.
The potential IPO comes at a time when the Japanese market is seeing increased interest from international investors, particularly in the personal-care sector. Companies are looking to capitalize on the growing demand for innovative and sustainable products, which has been accelerated by changing consumer preferences.
As FineToday prepares for its IPO, the involvement of major financial institutions as underwriters signals strong confidence in the company's growth potential. The upcoming offering could mark a significant milestone for FineToday and the broader personal-care industry in Japan, attracting attention from both local and international investors.
Nasdaq leads the IPO market in 2023, outperforming NYSE for the sixth consecutive year, with expectations for continued growth in 2024.
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