CVC’s FineToday Selects Banks for Anticipated Year-End Tokyo IPO

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.

Key Takeaways

• FineToday Holdings Co. is preparing for a potential IPO in Tokyo.
• The company aims to raise up to $1 billion.
• Lead underwriters include Daiwa Securities, Mizuho Financial, SMBC Nikko, and UBS.
• CVC Capital Partners holds a majority stake in FineToday.
• The IPO valuation is projected between $2 billion and $3 billion.

Background on FineToday Holdings

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.

IPO Details and Expectations

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:

• Daiwa Securities Group Inc.
• Mizuho Financial Group Inc.
• SMBC Nikko Securities Inc.
• UBS Group AG

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.

Market Context

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.

Conclusion

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.

Sources

• CVC’s FineToday Is Said to Pick Banks for Year-End Tokyo IPO, Yahoo.