Chinese beauty giant Maogeping Cosmetics plans to raise up to $270 million in its Hong Kong IPO, offering 70.6 million shares priced between HK$26.30 to HK$29.80 each, according to the company’s listing application submitted today. The shares represent 15% of the company’s total shares, with six cornerstone investors, led by CPE and Loyal Valley, subscribing for $100 million worth of shares. Founded in 2000 by one of China’s most prominent makeup artists, Mao Geping, the brand has contributed to the rise of C-beauty, as Chinese consumers increasingly view domestic beauty products as comparable to international brands.