By  on November 5, 2010

TOKYO — Japanese cosmetics company Pola Orbis Holdings is planning an initial public offering, and its shares are expected to start trading on the Tokyo Stock Exchange Dec. 10, a spokesman said Friday.The company plans to sell about 4 million existing shares, which will raise about 6 to 7 billion yen, or $74.2 million to $86.5 million at current exchange rates. The funds will be used to develop the company’s production and research and development facilities. Pola has set an indicative price of 1,800 yen, or $22.25, per share.On top of that, Pola’s shareholders will sell 13.6 million shares, which would generate about 24.5 billion yen, or $302.9 million, for those investors. There is also an over-allotment option for an extra 2.6 million shares if demand requires. If the over-allotment option is fully exercised, 35 percent of the company will be listed on the stock market.Pola saw sales of 95.27 billion yen, or $1.18 billion at current rates, for the year ended December 2009.This is the second significant beauty IPO in the region this year. In May, French beauty group L’Occitane International SA listed its shares on the Hong Kong Stock Exchange.

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