Puig, a leading player in the luxury cosmetics industry, is set to go public on Friday with an initial public offering (IPO) value of €14 billion. The company has decided to set the IPO price at €24.50 per share, which is the highest within the range considered in the prospectus. This reflects the strong demand from institutional investors and the success of the largest operation in Europe this year.
Despite suggestions from banks to increase the offer price, Puig has stuck to its original plan and will wait for the closing of the books on Tuesday. The company expects to rank fifteenth by capitalization at €24.50 per share, with Goldman Sachs, JP Morgan, Bank of America, BNP Paribas, CaixaBank, and Banco Santander all involved in coordinating the operation.
Market sources believe that Puig’s strong demand comes from increased investor interest in luxury companies this year due to their growth potential. The company is expected to close its premiere with increases thanks to its high-quality investor base, including Criteria as a new shareholder. Managers note that cosmetics companies are experiencing significant growth and that it is an ideal time for Puig to go public despite slightly higher prices.
Puig will put 32% of its capital on the market while retaining control with class A shares holding majority voting rights. Measures have been put in place to prevent class A shares from being sold to third parties and maintaining family influence within the company.