Puig shares start successfully on the stock exchange

Puig shares start successfully on the stock exchange

This Friday, the shares of Jean Paul Gaultier's parent company Puig opened successfully on the Madrid stock exchange. With an initial price of 25.70 euros, Puig shares were initially 4.9 percent above the issue price of 24.50 euros. This resulted in the fashion brand's market value at its stock market debut being around 14.7 billion euros. Despite initial fluctuations, the company's shares rose by 0.90 percent to 24.72 euros towards the end of the trading day.

The company had previously set the final price for its IPO at the upper end of the price range of 22.00 to 24.50 euros per share. Experts such as Konstantin Oldenburger, market analyst at CMC Markets, described Puig as well-positioned for a successful IPO due to its establishment, high-quality products, profitability and family ownership.

Puig opted for a dual share structure, with Class B shares trading in Madrid, which have fewer voting rights than A shares. The Puig family continued to retain 92.5 percent of the voting rights after the IPO. In addition to Jean Paul Gaultier, the company's upscale brands also include Carolina Herrera, Paco Rabanne and Nina Ricci. Puig now has to compete on the stock market with competitors such as L'Oréal and LVMH.

The European IPO landscape is flourishing, especially this year. Data shows Puig not only surpasses Swiss dermatology company Galderma and Luxembourg financial firm CVC, with revenues of €3 billion, but also represents the biggest IPO of the year in Europe. Spanish stock exchange operator BME highlights that this is the most expensive stock market debut in Spain since 2015.