One of China’s best known makeup artists, Mao Geping, took his beauty company public in Hong Kong, capping a remarkable run that’s seen the former opera performer’s premium powders and lotions defy the nation’s consumer slowdown.
His skincare and cosmetics firm Mao Geping Cosmetics Co., which lists Tuesday, could raise up to HK$2.1 billion ($270 million) in its initial public offering, according to Bloomberg calculations based on the company’s prospectus, and potentially more with an option to upsize the deal. It’s the first Chinese cosmetics brand to list in the city.
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