Catalan beauty group Puig seeks €14bn valuation on May 3 stock market debut
Company offering shares between €22 and €24.50 apiece
Catalan beauty group Puig – owner of brands such as Paco Rabanne, Jean Paul Gaultier and Caroline Herrera – will debut on the stock market on May 3, seeking a valuation of between €12.7 billion and €13.9 billion, as announced this Thursday in a statement.
Spain's National Securities Market Commission (CNMV) has already approved the documentation submitted by the company.
The perfume company has announced that the share price range is between €22 and €24.50 per share.
In total, Puig expects to raise around €3 billion, €1.25 billion from new shares, €1.36 billion from the sale of shares belonging to the Puig family through Exea, and up to €390 million from Goldman Sachs.
After the IPO, the Puig family, which has owned the Barcelona-based company for three generations, will hold the majority of shares and the majority of votes.
The company expects to be listed on the Barcelona, Madrid, Valencia and Bilbao stock exchanges.