A Puig IPO could be on the cards within the next few months.
The Barcelona-based fashion and beauty conglomerate has appointed a banking syndicate to lead its IPO, helmed by Goldman Sachs and JPMorgan as global coordinators.
Bank of America, BNP Paribas, Caixabank and Santander will also be involved as joint bookrunners, with Puig expected to float before summer, as reported by Expansión.
This is at the tighter end of the timeline initially mooted by Puig in October of last year, when it said any company changes would be implemented “within the next few years”.
At the time, Chair and CEO Marc Puig told the Financial Times that opening Puig’s capital could help it avoid common pitfalls for family-run businesses.
“Difficulties can arise, especially in the transition between generations,” said Puig, the grandson of company founder Antonio Puig.
“The search for leadership, a lack of understanding, a loss of passion.
“Having to be accountable to the market brings a discipline and rigour that ensures those issues do not arise.”
The Charlotte Tilbury and Paco Rabanne owner is in a strong position to make its stock market debut having acquired a majority stake in cult skin care brand Dr. Barbara Sturm this year.
In 2023, it reorganised its structure to group its businesses under the publicly limited company Puig Brands SA; Puig would have been unable to go public had its parent company remained a limited liability company.
It also re-shuffled its board to increase the number of independent directors.