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Coty to explore dual listing on Paris Stock Exchange

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Already listed on the New York Inventory Alternate, the U.S. cosmetics maker is contemplating a second itemizing in Paris, with the purpose of strengthening its presence in Europe and attracting new buyers.

In response to the group; such a choice could be in line with Coty’s 100+ yr heritage in France and its substantial enterprise footprint in Europe.

If the corporate initiates a list course of on the Paris Inventory Alternate, Coty Inc. would develop into a twin listed firm on the New York Inventory Alternate and on the Paris Inventory Alternate.

Luxurious and wonder teams right this moment play a preponderant function within the Parisian inventory market. LVMH, Kering, Hermès and L’Oréal presently attain a cumulative market worth near 1,000 billion euros, representing virtually 40% of the CAC 40, the inventory market’s flagship index.

Paris is the historic home of beauty, and the industry still holds a special attraction for investors there,” mentioned Peter Harf, Coty’s Chairman.

In assist of this transfer, Coty additionally highlights the outcomes obtained because the appointment of Sue Y. Nabi as CEO in September 2020, which have been mirrored within the “quadrupling of the group’s market capitalization.

“The Board’s interest in exploring a potential listing on the Paris Stock Exchange has been made possible thanks to the progress Coty has made under Sue’s leadership. We have seen consistent growth over the last 10 quarters, in line with or ahead of market expectations, underpinned by targeted investment, disciplined cost controls and a clear debt reduction program,” added Peter Harf.

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