Spanish Cosmetics Group Puig Hires Goldman Sachs, JPMorgan for IPO

Spanish cosmetics group Puig has employed funding banks Goldman Sachs and JPMorgan as advisers for a doable inventory market itemizing, a supply near the matter informed Reuters.

The family-owned firm, which owns manufacturers equivalent to Carolina Herrera, Paco Rabanne and Charlotte Tilbury, could possibly be price as a lot as €8 billion ($8.6 billion), in keeping with a report by the Spanish newspaper Enlargement earlier on Thursday.

Puig and JPMorgan declined to remark. Goldman Sachs didn’t instantly reply to a request for remark.

The information comes as the marketplace for preliminary public choices (IPO) picks up following a protracted drought attributable to tightening financial coverage after years of low-cost borrowing and Russia’s invasion of Ukraine.

Enhancing market sentiment in direction of new shares, coupled with better visibility on rates of interest, have inspired some European companies in current months to go public.

Hotelbeds, a Spain-based firm which sells resort rooms to wholesale prospects equivalent to journey companies and tour operators, can be stated to be mulling an IPO.

Barcelona-based Puig noticed gross sales bounce 40 % to €3.6 billion final 12 months, benefiting from sturdy demand following the Covid-19 pandemic. The corporate stated in March it anticipated to achieve €4.5 billion in gross sales by 2025.

By Andres Gonzalez, Inti Landauro, Pablo Mayo Cerqueiro and Corina Rodriguez; Editors: Elisa Martinuzzi and Mark Potter

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