Puig joining Spain’s Ibex 35 two months after IPO and “robust” market performance
11 Jul 2024 --- Puig Brands joins Spain’s Ibex 35 index starting July 22. The index comprises the 35 most liquid securities listed on the Electronic Stock Market Interconnection System across stock exchanges in Madrid, Barcelona, Bilbao and Valencia.
Puig was selected by the Ibex 35 Technical Advisory Committee (TAC) during its meeting earlier this week and will replace Melia Hotels. TAC evaluates companies based on several criteria, including trading volume, liquidity and market capitalization.
Puig debuted on the Spanish Stock Exchanges in May this year at an offer price of €24.50 (US$26.58) per share, making it the largest initial public offering (IPO) globally this year and in Europe since 2022.
Since its IPO, Puig shares have had a “robust” market performance with a current market capitalization of €14.4 billion (US$15.6 billion). As of closing on July 9th, Puig’s class B shares were valued at €4.4 billion (US$4.77 billion), placing it in the top 20 of Ibex 35 constituents.
The index is administered and calculated by Sociedad de Bolsas, a subsidiary of Bolsas y Mercados Españoles, which runs Spain’s securities markets.
Puig touts itself as a global player in premium beauty with a “diversified footprint across brands, product categories and geographies.”
Beauty biz
In beauty business news, Shein reportedly filed confidential papers with UK regulatory bodies last month ahead of a potential IPO on the London Stock Exchange.
The fast fashion giant is rumored to be listing in the second half of the year. If the listing proceeds, Shein is expected to receive £50 billion (US$63.3 billion), according to a Bloomberg report. However, Chinese authorities have yet to give the green light.
Superdrug also demonstrated financial prowess, achieving annual sales increases of 11.8% to £1.5 billion (US$1.9 billion), boosted by store expansions and own-brand sales. Pre-tax profit jumped 43% to £111.6 million (US$142.8 million), compared to £77.8 million (US$99.8 million) in 2022.
By Sabine Waldeck
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