Coty moves ahead with Paris stock listing plans - Bloomberg News
Reuters
Published Sep 21, 2023 18:38
Updated Sep 21, 2023 19:10
(Reuters) -CoverGirl cosmetics parent Coty is moving forward with its plan to list on the Paris Stock Exchange which could take place as soon as the coming weeks, Bloomberg News reported on Thursday, citing people with knowledge of the matter.
The company has brought on BNP Paribas (EPA:BNPP) and Citigroup (NYSE:C) to work on the deal and is considering raising fresh capital from the listing, the report said.
Coty is aiming to formally announce details of the plans as soon as the next few days and a listing could follow shortly afterward, according to the report.
Coty declined to comment on the report. The company's shares were up about 1% in afternoon trade.
The cosmetics and fragrance maker said in May it would explore a listing on the Paris Stock Exchange in a bid to bolster its presence in Europe and tap into new investors in the market.
The company on Wednesday raised its annual core sales forecast boosted by higher prices and strong demand, particularly in its high-end segment that houses cosmetics and fragrances from brands such as Hugo Boss, Gucci and Burberry.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.