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Coty selects banks for planned IPO
Beauty company Coty has selected Bank of America Merrill Lynch and JPMorgan Chase & Co to be the lead underwriters for a planned initial public offering this autumn, a source close to the deal said last night. The IPO would value Coty at more than $7bn, the source said, adding that the company would file its S-1 prospectus “soon.” Coty declined to comment, as did Bank of America and JPMorgan.