Puig, the Spanish luxury conglomerate renowned for its iconic brands including Carolina Herrera, Jean Paul Gaultier, Paco Rabanne, Nina Ricci, and Charlotte Tilbury, is preparing to go public. The company has finalized its lineup of banks that will lead its initial public offering (IPO), with expectations for the process to be completed before the summer.
Goldman Sachs and JPMorgan will serve as global coordinators for Puig’s IPO, with Bank of America, BNP Paribas, and Santander taking on the role of “joint bookrunners.” BBVA and Banco Sabadell will act as “co-lead arrangers.” Legal matters will be handled by Cuatrecasas and Linklaters, ensuring a smooth and compliant process.
Puig’s IPO and stock market debut are anticipated to be among the most significant operations of the year in Spain and Europe. The company intends to initiate the process following Easter and make its debut before the summer, capitalizing on the favorable moment for luxury brands in the stock market.
The Puig group has garnered attention due to its impressive portfolio of internationally recognized brands, its recent growth, and its robust financial position with a debt of only 1.2 billion euros. Initially estimated to be valued between 8 and 10 billion euros, the company’s valuation has been raised to a potential 15 billion euros, highlighting investors’ confidence in its future prospects.
Regarding the percentage of the company to be offered in the market, it is projected to range from 25% to 49% of its capital. Puig, which is currently entirely owned by the Puig family, has been strategically preparing for its stock market debut over the past year. It streamlined its organizational structure by consolidating all businesses under Puig Brands SA and increased the presence of independent directors on its board. Moreover, earlier this year, Puig acquired a majority stake in the German cosmetics company Dr. Barbara Sturm, further strengthening its luxury brand portfolio.
The latest available figures for Puig, from 2022, depict impressive performance. Sales saw a notable 40% increase, reaching a record 3.6 billion euros, while the company recorded a profit of 400 million euros. These figures underscore the strength and potential of Puig in the luxury market, heightening investor interest in the company’s IPO.
Overall, Puig’s IPO and stock market debut represent a significant milestone for the company. With its prestigious collection of brands, strategic growth initiatives, and sound financial standing, Puig appears poised for success in the stock market. Investors and industry observers will closely monitor the company’s performance as it embarks on this exciting next phase of its journey.
Useful Links:
1. Expansión: Puig’s IPO Plans
2. Puig Official Website
