By  on June 13, 2013

Coty Inc.’s first trading day got off to a lukewarm start on Thursday.

Making its debut against the backdrop of a robust stock market, Coty’s shares — initially priced at $17.50 — had dropped to $16.90 by late morning, but began to rebound throughout the day to close at $17.36 on Thursday, or down 0.8 percent, on the New York Stock Exchange. The closing stock price values Coty at roughly $6.94 billion.

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