Already listed on the New York Stock Exchange, the American cosmetics group is considering a second listing in Paris, with the aim of strengthening its presence in Europe and attracting new investors.
According to the group, such a decision would be consistent with Coty’s more than century-old history in France and its substantial commercial positions in Europe.
If the company begins an IPO process on the Paris Stock Exchange, Coty Inc. will become a dual-listed company, both in New York and in Paris.
Luxury and beauty today play a preponderant role in the Parisian stock market. LVMH, Kering, Hermès and L’Oréal combine a market capitalization close to 1,000 billion euros, representing alone nearly 40% of the CAC 40, the stock market’s flagship index.
« Paris is the historical cradle of beauty, and this industry still arouses a particular attraction for investors there. “, explain Peter Harf, chairman of Coty.
In support of this approach, Coty also highlights the results achieved since the appointment of Sue Y. Nabi as CEO in September 2020, which has resulted in the “ quadrupling of the group’s market capitalization ».
« The Board’s interest in considering a possible listing on the Paris Stock Exchange was made possible by the progress made by Coty under Sue’s leadership. We have experienced consistent growth over the last 10 quarters, meeting or exceeding market expectations, supported by targeted investments, strict cost control and a clear program of debt reduction added Peter Harf.
2023-05-06 14:26:21
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