Spanish perfume multinational Puig hires Goldman Sachs and JPMorgan for its IPO

Shorts and shares on credit, a problem of informationstock market

Spanish multinational perfume, fashion and make-up company Puig – owner of brands such as Carolina Herrera, Paco Rabanne, Jean Paul Gaultier and Charlotte Tilbury – has hired the services of Goldman Sachs and JPMorgan as global coordinators for its IPO, according to several market sources consulted by EXPANSIÓN. It is estimated that the valuation of the company, which has accumulated two consecutive years with record revenues and profits, could reach €8,000 million (US$8,591 million) in its stock market debut.

The hiring of the investment banks, two of the largest on Wall Street, comes four months after the family-owned group reorganised its corporate structure to group all its businesses under a public limited company, Puig Brands SA, a necessary requirement for the corporation led by Marc Puig Guasch to go public, as published by this newspaper on 4 May. The parent company was previously Puig SL and this type of company cannot be listed.

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.