The Puig family has entered the stock market with a successful debut, as their multinational company specializing in perfumery, cosmetics, and fashion saw its shares rise by 4.24% to 25.5 euros per share. Despite the initial excitement, Puig is now working to maintain its share price as it approaches the end of the trading session.
The IPO marks the largest in Spain since 2015 and was highly anticipated, with demand for Puig’s shares exceeding supply in the expected price range. The company’s president and CEO, Marc Puig, expressed optimism about the future as Puig transitions to a publicly listed company.
Puig set its debut price at the top of the range, valuing the company at 14 billion euros. The company may still carry out an expansion of the placement, raising additional funds through a green shoe option. Investor interest in Puig’s debut was evident as trading volume remained high throughout the day.
To protect family control, Puig has structured its IPO to retain a majority of economic and voting rights in the company. The funds raised through this IPO will support further growth and expansion, including financing recent acquisitions and future investments. The Puig family sees this transition as a way to facilitate leadership succession to the next generation.
Goldman Sachs and JP Morgan served as global coordinators for the IPO, while several other banks were involved in this process. Legal teams played an essential role in facilitating this debut on
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