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News Summary: Coty plans to raise $700M in IPO

Friday - 6/29/2012, 12:14pm  ET

The Associated Press

(AP) - GOING TO MARKET: Coty Inc. said Friday that it plans to raise $700 million in an initial public offering.

POST-AVON: The seller of perfume, OPI nail polish and other beauty products is moving on after dropping a $10.7 billion takeover bid for its much larger rival, Avon Products Inc.

DETAILS: Coty will list its stock under the "COTY" ticker symbol.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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