The shares of the fashion and perfumery group Puig Brands have ended their second session on the Stock Market with an increase of more than 4% after closing flat in their stock market debut last Friday, May 3, a day in which they gained more than 8%. % at the beginning of its price on the stock market.
Specifically, heThe titles of the Catalan company have marked a price of 25.5 euros this Mondaywith an advance of 4.08%, above the 24.5 euros established in the operation, reaching a maximum of 25.96 euros.
Specifically, the cosmetics firm Puig began trading last Friday at a price of 24.5 euros per share, the highest of the range set in the prospectus. which represents a market capitalization of 13,920 million euros in what will be the largest IPO in Europe so far this year.
Puig closed flat in its stock market debut last Friday, May 3, a day in which it gained more than 8%
The offer has been oversubscribed multiple times throughout the price range, which demonstrates, according to the firm, “the significant demand from international and national institutional investors.”
In fact, After the opening of the order book by the placement entities one day after announcing the IPO, the cosmetics firm has already achieved oversubscription of the offerwhose size is up to 3,000 million euros.
The operation, aimed at institutional investors, consisted of a public subscription offer (OPS) of new class B shares (51.02 million shares), with fewer political rights, and a public sale offer (IPO) of shares in the hands of the Puig family.
Thus, with the OPS tranche the firm has achieved gross proceeds of approximately €1.25 billion of new funds for the company, which it will use for general corporate purposes, including the refinancing of the acquisitions of additional stakes in Byredo and Charlotte Tilbury, and supporting the growth strategy of the company’s portfolio and brands.
In addition to the new shares in the offer, 55.51 million secondary shares have been awarded by the company’s majority shareholder, Puig, SLcontrolled by Exea (the Puig family’s holding company) for a total of 1,360 million euros.
