Established in 1976, L'Occitane, one of the first companies to go public in Hong Kong, today has raised 704 million US dollars from the city's initial public offering. With this, it will be the first company in the city to sell 364.12 million shares at the top of its indicative price range of 12.88-15.08 Hong Kong dollars (1.65-1.93 US) per share.

L'Occitane, that sells natural and organic ingredient-based cosmetics, will be the second non-Asian company to have its primary shares listed in Hong Kong. With a market capitalization of HK$22 billion, the company has sold
25% of its share capital at HK$15.08.

In comparison to its competitors like Avon and Estee Lauder, Teresa Chow says, "L'Occitane's valuation is higher than other global cosmetics companies, but investors are keen to tap the fast-growing consumer sector in Asia so they still bought shares". Teresa is a Fund manager at RBC Investment Management.

Half the shares that were offered by L'Occitane were fresh, and the remaining had been sold by parent L'Occitane Group. Presently the company is on a sheer rise by catering 80 countries through 15,000 outlets, and is on a plan to open 650 more in next five years.