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.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"