Puig's €14 Billion IPO Tops Europe, Shares Rise on Debut

May 3, 2024, 10:12 AM

Puig, the Spanish beauty and fragrance company, successfully launched Europe's largest initial public offering (IPO) of the year, raising €2.6 billion. The IPO was priced at the top of the range, reflecting strong investor demand and valuing the company at €14 billion. The founding Puig family, owners of renowned brands such as Jean Paul Gaultier and Rabanne, emerged as significant beneficiaries of the IPO. On its trading debut, Puig shares experienced a positive reception, with prices rising above the initial offering on the Spanish market. Concurrently, CEO Marc Puig introduced a 'self-disempowerment' plan aimed at reducing the family's control over the company.