Puig values ??the company’s market capitalization at between 12.7 billion and 13.9 billion euros, according to the prospectus published this Tuesday for its listing on the Barcelona, ??Madrid, Bilbao and Valencia stock exchanges. The non-binding price range at which the shares are offered in the offer is between 22 and 24.50 euros per share.
According to these figures, Puig would be the 15th company on the Ibex in terms of capitalization, behind Repsol and immediately before ACS.
The prospectus also confirms that the size of the offer is up to 3,000 million, which would mean the placement on the stock market of around 21%. The Puig family will maintain the majority of the capital of the perfumery, fashion and cosmetics group. The day of admission and start of trading will be May 3.
The group has brands such as Carolina Herrera, Rabanne, Charlotte Tilbury and Jean Paul Gaultier in its portfolio and has been controlled since its foundation by the Puig family, which “will retain a majority stake and the vast majority of voting rights,” explained the company. company. Puig operates in 32 countries and in the last financial year it had a turnover of 4,304 million euros and obtained a profit of 465 million, with double-digit growth in both cases.
“We believe that the balance of being a family company that is at the same time subject to market responsibility will allow us to compete better in the international beauty market during the next phase of development,” argued its president, Marc Puig. The IPO represents a new stage for a company that has maintained “constant” growth and internationalization.
With the funds raised, the intention is to “continue growing” with a focus on premium beauty, increasing market share in Europe or America and the acquisition of new brands. They will also serve to finance “any future strategic investment” and capital expenditures, the company has specified. Also “the refinancing of the acquisitions of additional stakes in Byredo and Charlotte Tilbury.” Puig’s net financial debt amounts to 1,196 million euros after the latest operations.
