L'Occitane Eyes Hong Kong IPO
France-based cosmetics company L'Occitane en Provence plans to raise USD300m from its Hong Kong initial public offering, Reuters reports. Sources familiar with the matter said that the retailer chose Hong Kong over Paris because Asia is its "fastest-growing market". The IPO is scheduled for the end of 2008.
Pirelli Invests in USD100m in China
Tire-maker Pirelli will invest USD100m in the next two years in China
to double the domestic tire production to 11 million units, Italian
sources quote Chairman Marco Tronchetti Provera. The expansion is aimed
at improving the Italian company's market share in China to 10 per cent.
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