Puig has set the share price for its initial public offering.
at 24.50 euros per Class B share and confirmed it will begin trading on the Spanish Stock Exchanges on Friday.
The total offering size is up to 3 billion euros, and the pricing implies a market capitalization of 13.92 billion euros. Puig’s offering’s primary tranche will result in about 1.25 billion euros for the company, which has said it will use the proceeds to finance the acquisitions of additional interest in Byredo and Charlotte Tilbury, and to finance other investments and capital expenditures.
Puig is granting Goldman Sachs Bank Europe SE an option to purchase, on behalf of the managers, over-allotment shares of up to about 15 percent the size of the base offering — equating to up to 390 million euros.
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