Puig rings the bell on the largest IPO in Europe this year - Indoors Beauty

Puig rings the bell on the largest IPO in Europe this year

Puig rings the bell on the largest IPO in Europe this year

Shares in premium magnificence group Puig started buying and selling on the Barcelona, Madrid, Bilbao and Valencia Stock Exchanges at the moment – the €3 billion IPO was the largest in Europe this year.

The itemizing of the dad or mum of Charlotte Tilbury, Nina Ricci, Dries Van Noten, and plenty of others, was a number of instances oversubscribed with shares supplied at €24.50 per share, which was proper at the high of the providing value vary of €22.00-24.50 per supplied share.

Interest in taking a slice of the enterprise, which final year recorded income of greater than €4.3 billion, was stated to be sturdy from each worldwide and home institutional traders.

Puig described the itemizing on the Spanish Stock Exchanges as “a transformational second in the Company’s 110-year-old historical past as a enterprise guided by three generations of its founding household”.

To mark the second, chairman and CEO Marc Puig, rang the opening bell at the Barcelona Stock Exchange and through the ceremony Puig showcased the evolution of its visible id to sign the starting of a brand new chapter.

Marc Puig stated the group, whose current buys embody Dr Barbara Sturm and Byredo, would proceed to be acquisitive and construct its current manufacturers: “Puig’s profitable IPO marks the starting of a brand new and thrilling chapter in our firm’s lengthy and proud historical past. Backed by investor confidence in our technique, we are going to proceed to construct our portfolio of personal manufacturers with a spotlight on extending our management in status merchandise and area of interest fragrances, whereas investing in our core markets and help our growth in high-potential geographies.

“I want to thank the onerous work of the Puig crew, made up of 11,000 individuals in 32 nations. Today’s milestone can be potential due to the entrepreneurial spirit of two generations that got here earlier than us that dared to look past our borders when only a few did so at the time. I can think about the pleasure of those that left us if they may see how sturdy we’ve got saved our union and the way far we’ve got gone collectively. We are grateful to our traders for his or her help and sit up for writing the subsequent chapter in Puig’s historical past collectively.”

Puig describes itself as a challenger in the magnificence, perfume and vogue area. Its portfolio consists of the manufacturers Rabanne, Carolina Herrera, Charlotte Tilbury, Jean Paul Gaultier, Nina Ricci, Dries Van Noten, Byredo, Penhaligon’s, L’Artisan Parfumeur, Uriage, Apivita, Dr. Barbara Sturm, Kama Ayurveda and Loto del Sur, in addition to the magnificence licenses of Christian Louboutin, Banderas and Adolfo Dominguez, amongst others.

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