Cosmetics group Puig plans to raise €2.5 billion through IPO – Kommersant

Spanish cosmetics maker Puig Group, which owns the Carolina Herrera, Rabanne and Charlotte Tilbury brands, intends to raise more than €2.5 billion in an IPO. This is reported by Reutersciting preparatory documentation for the company’s initial public offering.

As the agency notes, as part of the IPO, the company intends to issue new shares and earn €1.25 billion from their sale. In addition, previously issued Puig shares will also be sold during the listing, which, according to the plan of the Puig family, which manages the cosmetics giant, will bring profit to the company even greater profits.

“We want to remain a family business, but at the same time be a market-accountable company, this will allow us to better compete in the international beauty market in the next stage of development,” Reuters quotes Puig CEO Marc Puig.

According to Bloomberg, we can talk about raising even €3 billion. In any case, this will be the largest IPO for Spanish companies in the last decade. The Barcelona-based Puig Group’s listing will take place in Madrid. It may be officially announced this week, Bloomberg reports.

Kirill Sarkhanyants