A transformational moment in Puig’s 110-year-old history.
Puig Brands, S.A. (“Puig” or the “Company”), the global player in Premium Beauty with a diversified footprint across brands, product categories and geographies, started trading today as a listed company on the Barcelona, Madrid, Bilbao and Valencia Stock Exchanges (the “Spanish Stock Exchanges”) under the ticker symbol “[PUIG]”. The listing follows the company’s Initial Public Offering (IPO), with an offering of €2,610 million (the “Offering”). Including the up to €390m Over-allotment Option, the total offering size is up to €3,000 million, making it the largest IPO in Europe this year.
The Offering was priced at €24.50 per offered share, at the top of the Offering price range of €22.00-24.50 per offered share. The IPO was multiple times oversubscribed across the price range, outlining strong demand from international and domestic institutional investors.
The listing is a transformational moment in the Company’s 110-year-old history as a business guided by three generations of its founding family. Puig defines itself as a Home of Creativity, a supportive ecosystem to unleash the potential of its people and brands.
Marc Puig, Chairman and CEO of Puig, said: Puig’s successful IPO marks the beginning of a new and exciting chapter in our company’s long and proud history. Backed by investor confidence in our strategy, we will continue to build our portfolio of own brands with a focus on extending our leadership in prestige products and niche fragrances, while investing in our core markets and support our expansion in high-potential geographies.
I would like to thank the hard work of the Puig team, made up of 11,000 people in 32 countries. Today’s milestone is also possible thanks to the entrepreneurial spirit of two generations that came before us that dared to look beyond our borders when very few did so at the time. I can imagine the pride of those who left us if they could see how strong we have kept our union and how far we have gone together. We are grateful to our investors for their support and look forward to writing the next chapter in Puig’s history together.
Puig celebrated the IPO and listing by ringing the bell at the Barcelona Stock Exchange, marking the commencement of trading of the Company’s class B shares on the Spanish Stock Exchanges. During the ceremony, Puig also showcased the evolution of its visual identity to signal the beginning of a new chapter for the Company while expressing its rich legacy.