Jala Group, a Chinese cosmetics and skincare brand, is considering an initial public offering in Hong Kong that could raise as much as $500 million, according to people with knowledge of the matter.
The Shanghai-based company is working with Huatai International and UBS Group AG on the first-time share sale, the people said, asking not to be identified as the information is private. The listing may take place as soon as next year, the people said.
Deliberations are preliminary and details of the IPO such as size and timing could change, the people said. A representative for UBS declined to comment, while Huatai and Jala didn’t immediately respond to requests for comment.
Founded in 2001, Jala has six brands led by its flagship Chando skincare and makeup products, its website shows. Its other lines include Biorrier and Maysu skincare and Assassina fragrances.
Local cosmetics and skincare makers are increasingly gaining traction in China versus foreign brands from companies like L’Oreal SA. Chando’s ads featuring the slogan “You are naturally beautiful” are ubiquitous on Chinese TV.
--With assistance from Daniela Wei.
