CriteriaCaixa enters the Puig IPO with 425 million euros and three% of the shares | EUROtoday

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CriteriaCaixa has determined to take a step ahead and as soon as Puig has confirmed the profitable placement of its shares to go public, the holding that manages the property of The La Caixa Foundation has confirmed that it’s going to even be current on the IPO, simply as was rumored available in the market. Thus, CriteriaCaixa has acquired B shares representing 3.05% of the share capital of Puig Brands throughout the IPO (public sale operation) that the Catalan firm has carried out and which has been positioned solely amongst institutional buyers, with out giving entry to the small investor. For it, The agency chaired by Isidro Fain has dedicated an funding of 425 million euros.

“It is part of Criteria's selection of leading companies in highly attractive sectors, with the capacity for growth and value generation. In this sense, the investment will allow gaining exposure to the fashion and beauty industry, which has proven to be resilient in crisis situations, with annual growth of close to 5% for decades,” the holding this afternoon.

Similarly, CriteriaCaixa says it feels comfy with the shareholder remuneration coverage introduced by Puig in line with which it’s going to distribute 40% of the group's revenue amongst its buyers, following the pattern of latest years utilized by the superb perfumery group. “Puig is an emblematic company in the fashion and beauty sector, with a high level of internationalization; a diversified portfolio of brands, channels and product categories; and a management team with a track record demonstrated,” the assertion stated.

Puig will break this Friday, May 3, with a five-year drought with regard to inventory market listings in Spain. The high-end perfumery agency has managed to put its shares on the highest worth anticipated amongst buyers, of 24.5 euros, which represents a capitalization of 13,920 million euros on the time of its debut. The Puig household will preserve virtually absolute management of the corporate after its inventory market debut, with 90% of the political rights and over 70% of the financial rights, the place it has opened its hand a bit extra to confess certified buyers.

In any case, consultants assume that the way forward for the household agency is to be throughout the Ibex 35 in direction of the tip of the yr given the scale of the corporate.

Puig focuses on promoting perfumery and trend (to a lesser extent) in addition to providing foot care therapies and high-end make-up. It operates in 32 international locations, employs greater than 11,000 individuals and has a market share of 11% in what is called 'selective perfumery' or area of interest, that are these fragrances with the next price than these offered in massive business areas. Puig is among the 5 largest sellers on this planet. It has 17 manufacturers (14 of them owned), amongst which, when it comes to income, Rabanne, Charlotte Tilbury and Carolina Herrera stand out, among the many best-selling on this planet.. For the group, Spain represents 7% of earnings. The US and England are its most important markets.