Coty makes the leap to the Paris stock exchange. The group published yesterday in a press release what was the final price of its share and thus confirmed its listing on the Paris stock exchange. In the same document issued by the company, it has set a price for its share: 10.39 euros. The American company was already listed on the New York Stock Exchange.
Some means as 'Fashion Network' already advanced this operation at the beginning of week, after knowing that the group had launched a broadcast of 33 million actions with the main aim to use this income to diminish his debt. The company itself has also acknowledged in its press release that this capital will be used for other strategic investments in its business, such as consolidating and strengthening its business in Europe. The transaction was backed by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Santander and Citigroup.
The US group, which is seeking not only to reduce its debt but also to strengthen and consolidate its business in Europe, announced in May its plans to list on the Paris stock exchange. In a press release, the US perfume and cosmetics group announced that this was one of the points on the company's roadmap and that it would serve to attract more investors. Peter Harf, Coty's chairman, threw out this possibility on the premise that "Coty's presence in Europe would be strengthened".
Coty, which has licences in the world of perfumery such as Chloé, Marc Jacobs, Hugo Boss and Burberry, increased its sales forecast just 10 days ago. The American group itself, in a press release, forecasts an increase in sales of between 8% and 10%, which it attributes to its luxury brands. The group continues to increase its presence in Europe with a growth in sales that is also reflected in its revenue figures.