Puig opens on stock exchange this Friday with €24.5/share placement price, discount of 15.6% compared to sector average
Bankinter: Trading starts this Friday at 12.00h. The placement price has been €24.5/share. The group, valued at €14,000 M, has placed 32% of its capital among qualified investors. Preliminarily, based on available information, we estimate that the exit price represents a discount of 15.6% versus the sector average (L’Oreal, Estee Lauder, Shiseido, Coty, Interparfums) in terms of EV/EBITDA 2023 and -34.4% versus the sector leader, L’Oreal. We believe that a…