Catalan beauty group Puig aims to raise €3bn in stock market debut
Barcelona-based family business owns Paco Rabanne, Jean Paul Gaultier and Caroline Herrera brands
Catalan beauty group Puig, owner of brands such as Paco Rabanne, Jean Paul Gaultier and Caroline Herrera, announced on Monday the launch of its stock, which will be effective in May.
The Barcelona-based family-owned company will initially sell €1.25 billion worth of shares, followed by a larger secondary offering.
In total, Puig expects to raise around €3 billion, sources close to the company told the Catalan News Agency (ACN).
After the IPO, the Puig family, which has owned the company for three generations, will hold the majority of shares and the majority of votes in the company.
The company expects to be listed on the Barcelona, Madrid, Valencia and Bilbao stock exchanges.
Puig's Chairman and Chief Executive Officer, Marc Puig, celebrated the "decisive step in the company's 110-year history.
"This will allow us to compete in the international beauty market during the next phase of Puig's development," he said.
Last month, Puig presented the results for 2023 with a profit of €465 million, 16% more than the previous year.
The beauty group posted a turnover of €4.3 billion, 19% more than the previous year.