Puig Brands completes its first month on the stock market. The cosmetics and perfumery group Puig Brands, which was floated on the stock exchange at the end of May, concludes its first month on the stock exchange with a rising share price. As of today, its shares have risen 7.2%.
The Catalan company debuted on the stock market with a price of €24.5 per share. As noted by the news agency Europa Press, Puig is valued at around 15,000 million euros and is a candidate to join the Ibex 35, although the BME also takes into account the concentration volumes in addition to market capitalisation.
During the initial share placement process, the offering was oversubscribed multiple times across the entire price range, demonstrating, according to the firm, ‘significant demand from international and domestic institutional investors’.
The transaction consisted of an initial public offering of new class B shares, totalling more than 51 million shares and with fewer voting rights, and an initial public offering (IPO) of shares held by the Puig family.
The new shares in the offer were allotted 55.51 million secondary shares by the company's majority shareholder, Puig SL, controlled by Exea (the Puig family's holding company) for a total of 1.36 billion euros.
The Catalan cosmetics group today holds the largest IPO in Spain since 2015 and the largest of the year in Europe with a price of 24.5 euros per share. In its debut, during the day, the share advanced more than 4% to reach 25.54 euros per share.