French skin care brand L ’Occitane has suspended transactions on the Hong Kong Exchange. It has previously reported that its controlling shareholder may privatize the company.
According to Agence France -Presse, L'Occitane announced on Monday (September 4) on Monday (September 4) at the Hong Kong Stock Exchange that the company's request has been suspended from 9 am, so that the company's release may include it may include a one may include the company may include it.Announcement of the details of privatization.
Bloomberg reported in July that Renold Geiger, Chairman of L'Occitane, is studying that through a holding company with a brand with a brand of more than 70%of the brand, it will privatize Ohdan.
L'Occitane also said in August that the controlling shareholder is considering the privatization of the company, and the potential selling price will be no less than 26 Hong Kong dollars per share (S $ 4.49).However, the company also said at the time that it had not received any certain offers and no clear agreement.
After the news of privatization came out, L'Occitane's stock price rose from HK $ 18 per share in July to 27.8 Hong Kong dollars per share, which rose more than 44%.
L'Occitane's headquarters is located in Luxembourg and Geneva, Switzerland. In 2010, it first publicly raised stocks in Hong Kong and raised funds of more than $ 700 million ($ 947 million).
When L'Occitane was listed in Hong Kong, it was when the Western brand seemed to open up the Chinese consumer market.L'Occitane's product portfolios include L ’Occitane En Provence, French beauty brand Melvita, Korean skin care brand Erborian, and British nursing product brand ELEMIS.
