Puig to Join Spain’s Blue Chip Index

Puig will be part of Spain’s blue-chip equities index on July 22, the inventory market’s advisory committee stated on Tuesday, simply over two months after the cosmetics firm accomplished the nation’s greatest preliminary public providing in almost a decade.

Puig will exchange Melia Inns n the IBEX 35 index.

Puig’s share worth has risen greater than 3 p.c since its market debut, partially as buyers guess the proprietor of Rabanne and Carolina Herrera perfumes would be part of indexes such because the IBEX, which till now has lacked a serious luxurious presence.

Its shares had been final buying and selling at 25.35 euros, valuing the corporate at greater than 14 billion euros ($15 billion).

Puig went public after shopping for manufacturers similar to luxurious label Byredo and Charlotte Tilbury make-up lately to raised compete with rivals L’Oréal and Estée Lauder.

Its in-house manufacturers similar to Rabanne introduced in web revenues of greater than 1 billion euros in 2023, with Jean Paul Gaultier displaying the quickest development throughout the portfolio.

In its first word on Puig, JP Morgan forecast the corporate would profit from sturdy demand for premium perfumes in addition to make-up and skincare, and stated the shares might attain 32 euros apiece by December 2025.

The Barcelona-based firm, during which the Puig household retains a majority stake, posted a ten.1 p.c year-on-year enhance in web gross sales within the first quarter of 2024, outpacing the broader premium magnificence market.

Financial institution of America and JP Morgan anticipate Puig’s gross sales to proceed to develop forward of listed friends. Additionally they see alternatives for mergers and acquisitions as Puig has stated proceeds from its IPO would assist fund investments.

This text was written by Macarena Muñoz from Bloomberg and was legally licensed by the DiveMarketplace by Business Dive. Please direct all licensing inquiries to authorized@industrydive.com.

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