Yatsen Holding, which makes and sells branded cosmetics primarily online in China, raised $617 million by offering 58.8 million shares at $10.50, the high end of the range of $8.50 to $10.50. Insiders and third parties indicated on $300 million of the IPO. At pricing, the company raised 11% more in proceeds than anticipated.
Yatsen Holding plans to list on the NYSE under the symbol YSG. Goldman Sachs, Morgan Stanley, CICC and Tiger Brokers acted as lead managers on the deal.
