The Puig Group SL revealed on Monday in a regulatory filing that it is looking to raise more than €2.5 billion in an initial public offering (IPO) and plans to make its debut on the Madrid Stock Exchange, as well as other stock exchanges in Spain.
The Spanish-owned fashion and fragrance firm, based in Barcelona, stated that it sees raising approximately €1.25 billion in a primary offering and then raising the rest during a "larger" secondary offering.
The amount of shares to be sold was not specified in the document. "We believe that the balance of being a family-owned company that is also subject to market accountability will allow us to better compete in the international beauty market during the next phase of the company’s development," CEO Marc Puig said in a statement.
