Coty’s Debut on the Paris Stock Exchange: A New Opportunity for European Investors

2023-09-26 17:20:56

Couple Ivan Letessier

Published 12 hours ago, Updated now

Coty CEO Sue Nabi (at the desk) on Wall Street in November 2021. The group has been listed on the New York Stock Exchange since 2013. Richard Drew/AFP

Already listed on Wall Street, the group wants to raise up to 350 million euros from European investors.

At almost 120 years old, Coty will make its grand debut on the Paris Stock Exchange on Thursday. The ceremony is scheduled for 3:30 p.m., at the opening time of Wall Street, where the group has been listed since 2013. Coty will then join L’Oréal, LVMH, Kering and Interparfums, other perfume players listed in the capital world of luxury. The group has issued 33 million shares, on sale since Monday evening (and until Thursday, 11 a.m.) to professional investors. Enough to raise 300 million to 350 million euros.

This is therefore not a purely technical second listing: the group (Lancaster, Rimmel, Bourjois, Covergirl, Burberry perfumes, Gucci, Hugo Boss, Calvin Klein, etc.) wishes to initiate sufficient liquidity for the Coty share on the Paris market. , in order to attract European investors and attract the attention of financial analysts from the Old Continent. The latter are, in fact, more accustomed than their American counterparts to following developments in the luxury and cosmetics sectors, etc.

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