Coty selects banks for IPO-CNBC
May 16 (Reuters) - Beauty company Coty Inc has selected JPMorgan Chase & Co and Bank of America to be the underwriters for an initial public offering it plans to price this summer, CNBC reported on Wednesday afternoon, citing sources.
The company, known for fragrances for Madonna and Playboy, will try to price the IPO, which would value it at $6 billion to $7 billion, this summer, CNBC said.
Coty on Monday withdrew its $10.7 billion offer to buy larger rival Avon Products Inc.
Coty did not immediately respond to a request for comment. (Reporting By Phil Wahba and Martinne Geller; Editing by Steve Orlofsky)
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