September 14, 2023
The perfumery, fashion and beauty group Puig, owner of brands such as Carolina Herrera or Paco Rabanne, plans to go public in 2024 with an estimated valuation of 8 billion euros, although everything will depend on market conditions at that time, according to market sources. Europa Press reported.
Specifically, as ‘Expansión’ reported this Thursday, the company has hired the services of Goldman Sachs and JP Morgan as global coordinators for its stock market debut.
The newspaper explains that the hiring of these investment banks occurs four months after the family group reorganized its corporate structure to consolidate all its businesses under a public limited company (Puig Brands SA). The parent company was previously Puig SL, and this type of company cannot be listed on the stock market.
According to ‘Expansión’, it is logical that the scope of the offer is between 25% and 49% of the capital, the minimum generally required by the National Securities Market Commission (CNMV) for companies that go public. and the maximum possible to allow the Puig family to retain control of the group.
The company, also owner of the Jean Paul Gaultier brand, closed 2022 with a net profit of 400 million euros, an increase of 71% compared to 2021, and net income of 3,620 million euros, which represents an increase of 40%. %.
In addition, the company achieved an operating profit (EBITDA) of 638 million euros in 2022, 37% more than in 2021, and recorded the best results in its history in 2022 for the second consecutive year.
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