Do recent European beauty IPOs bode well for a Boots flotation?
As Spanish beauty group Puig gears up for an IPO in Madrid, it is poised to become Europe’s biggest float this year with a valuation of nearly €14bn (£11.96bn). Retail Week takes a look at the recent surge in beauty IPOs, their valuations and what that might mean for Boots, widely rumoured to be exploring a listing in London.
Spanish group Puig, which owns luxury fragrance and beauty brands, including Charlotte Tilbury, Byredo and Rabanne, has set its final IPO price at the top of its announced range to €24.50 (£20.94) a share.
The IPO was oversubscribed across the price range, due to strong demand from international and domestic investors, bringing the overall market value of the group to €13.9bn (£11.88bn).
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