Spanish style group Puigproprietor of Nina Ricci, Paco Rabanne, Charlotte Tilbury or Byredo and has a majority stake within the Jean Paul Gaultier manufacturers, stated on Monday that it deliberate to listing its shares on the native inventory market.
Puig “declares its intention to proceed with the preliminary public providing (IPO)” with a view to itemizing on the Inventory Change Madrid Inventory Changesays a press release from the Barcelona-based household group specialised in perfumes and cosmetics.
The aim was to initially elevate €1.25 billion by way of newly issued shares, after which it will perform a “broader secondary providing” of current shares held by its Exea holding firm. This second step might permit Puig to boost an quantity “better” than the issuance of recent shares and, subsequently, would carry the whole fundraising of two.5 billion euros.
After the IPO, The Puig household will keep a majority stake within the firm and the “huge” majority of voting rights, the group added.
Based on analysts, This IPO would worth the Catalan group at nearly 10,000 million euros.
“Immediately's announcement is a decisive step in Puig's 110-year historical past,” stated the president and CEO Marc Puig within the assertion, emphasizing the corporate's “long-term focus.”
The IPO “will permit us to raised compete within the worldwide magnificence market in the course of the subsequent section of the corporate's improvement,” he stated.
He had already floated the thought of an IPO in an October interview with the Monetary Instances, saying it will carry “self-discipline” to the market with out the founding household relinquishing management.
Based in Barcelona in 1914 by businessman Antonio Puig Castelló, the corporate has grown over time to grow to be a heavyweight within the cosmetics, fragrances and style sector, which has carried out a sequence of acquisitions. in recent times.
Its manufacturers embody Paco Rabanne, Nina Ricci, Charlotte Tilbury, Dries Van Noten and Carolina Herrera and it additionally owns a majority stake in luxurious model Jean Paul Gaultier.
Final 12 months, Puig recorded gross sales of four.three billion euros, a rise of 19 p.c in comparison with 2022, and a web revenue of 465 million euros, 16 p.c extra year-on-year.