On July 22, Puig, the fashion and fragrance multinational known for brands like Jean Paul Gaultier and Carolina Herrera, made its debut on the IBEX 35, Spain’s main stock market index, with a nearly 2% increase.
At 9:30 AM, Puig’s shares gained 1.69%, marking the third-largest increase on the index at that time, reaching a price of €26.44. Since their initial public offering on May 3, priced at €24.50, the company’s stock has appreciated by almost 8%.
Replacing Meliá Hotels in the IBEX 35, Puig’s listing represents the largest IPO in Spain since 2015 and the most significant in Europe this year. When considering only the B-type shares that are publicly traded, Puig’s market capitalization is approximately €4.6 billion, placing it as the 25th company on the IBEX, just behind Rovi and ahead of Grifols, according to Six, the owner of Bolsas y Mercados Españoles (BME).
However, Puig’s overall valuation exceeds €15 billion, making it the 15th largest company on the index. On July 9, the IBEX Advisory Technical Committee held an extraordinary meeting and decided to include Puig in the IBEX 35 starting from today’s session.
Image and News Source: https://www.infobae.com/espana/agencias/2024/07/22/puig-se-estrena-en-el-ibex-35-con-una-subida-cercana-al-2/
