The Puig cosmetics firm will begin trading this Friday at a price of 24.5 euros per share, the highest of the range set in the prospectus, which represents a market capitalization of 13,920 million euros in what will be the largest IPO in Europe so far this year. This has been Puig’s stock market debut.
Specific, the shares of the Catalan company, which contemplated a price range of between 22 and 24.50 euros per share to debut on the stock market, will be listed on the Barcelona, Madrid, Bilbao and Valencia Stock Exchanges with the ticker tag ‘Puig’ through the Stock Market Interconnection System (Continuous Market).
“Today a new and decisive chapter opens in Puig’s 110-year history. The price of our offering reflects significant investor demand and is a recognition of the hard work and unwavering dedication of all Puig teams, who demonstrate creativity and passion for innovation every day,” stressed the executive president of Puig, Marc Puig. The company has noted that the offering has been oversubscribed multiple times across the entire price range, demonstrating “the significant demand from international and domestic institutional investors.”
The PUIG family will retain a majority position
After the offer, assuming the full exercise of the over-allotment option, the Puig family, through Puig, SL, will retain 71.7% of the economic rights of the company and 92.5% of its rights. of vote. Likewise, Puig Brands and the selling shareholder have agreed to certain commitments of non-disposal (‘lock-up’) with the insurance entities of the offer for a period between the date of signing the insurance contract and 180 calendar days from the admission.
Directors, senior management and certain employees of the company are also subject to certain disposition restrictions for a period between the date of signing the underwriting agreement and 365 or 180 calendar days after admission, but only with respect to a certain number of class B shares. In the company’s opinion, Becoming a publicly traded company involves a “higher level of scrutiny” by investors, analysts, regulators and the market in general, “ensuring that the next generations of the Puig family are held to the highest possible standards while leading the company in the right strategic direction.” “This will allow the firm to better compete in the international beauty market during the next phase of development. As a result of the offering, the company’s corporate and capital structures will be better aligned with those of the best family-owned companies in the global premium beauty sector, which have a strong core shareholding linked in most of the cases to their founding families, which encourages a long-term thinking approach,” the firm emphasizes.
Likewise, the company believes that becoming a publicly traded company will involve “greater visibility and awareness,” which should provide the company with “useful tools” for attracting and retaining talent, while opening access to capital. as another source of financing to support the growth strategy of the company’s brands and portfolio.
About the payment of Dividends
Regarding the remuneration of its shareholders, the group indicates that it has not approved any dividend policy. However, it indicates that it intends to distribute cash dividends in the near future “in a prudent manner”, the first of them after its offer in 2025 and charged to the results of 2024. In this case, it plans to maintain a ‘ pay out’ (ratio of dividend over attributable profit) of approximately 40%, in line with its dividend history, not affecting its objectives of continuing to grow its business and execute its business plan.
For its part, CriteriaCaixa, the holding company that manages the business assets of the ‘la Caixa’ Foundation, has acquired class B shares representing approximately 3.05% of the share capital of Puig Brands, within the Public Offering (IPO) process. To this end, CriteriaCaixa has committed an investment of 425 million euros, in an operation that is part of its investment policy, which “selects leading companies in highly attractive sectors, with the capacity for growth and generation of value.”
In this sense, this investment will allow Criteria to gain exposure to the fashion and beauty industry, which has proven, according to the entity, to be resilient in crisis situations, with annual growth of close to 5% for decades. Likewise, CriteriaCaixa highlighted that the ‘pay-out’ proposal announced by Puig fits into its strategy of seeking investment options with a long-term focus that maximize dividend profitability, and that allow it to generate the necessary resources so that its sole shareholder , the ‘la Caixa’ Foundation, can carry out its social action.
Presents a new logo
Taking advantage of its IPO, Puig will debut a new logo. Created in collaboration with Parisian art and design agency M/M, the new logo is based on the work of Swiss designer Yves Zimmerman for the company and includes an original typeface, Paralelo, which “reinterprets the spirit of Méridien”, a typeface 1955 by Adrian Frutiger that Zimmerman established for Puig more than 50 years ago. It includes a new symbol that evokes “an infinite line of creativity” inspired by a painting by Miró, while also evoking the 1970s Puig logo designed by Zimmerman.
Founded in 1914 in Barcelona, Puig is a large group with cosmetics, fashion and skin care businesses that had a turnover of 4,304 million euros last year and is present in 32 countries. The company owns such well-known brands as Carolina Herrera, Nina Ricci, Paco Rabanne and Jean Paul Gaultier.
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The right to apply… After opening visas for Egyptians, 6 jobs are required to work in Kuwait
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The step of opening visas to Egyptians is considered an important and important step that reflects the friendly spirit that binds the Egyptian and Kuwaiti peoples. It also comes in the context of mutual cooperation between Arab countries. The decision to open visas to Egyptians in Kuwait is considered a positive step worthy of praise, as Egyptian citizens can now visit Kuwait more easily and without… Visa complications, and therefore they can benefit from work, study and investment opportunities in Kuwait, and learn about its culture and traditions.
The most important jobs required in Kuwait
Kuwait is considered one of the sisterly Arab countries that is keen to strengthen relations with the Arab peoples and encourage cultural and economic exchange between the countries of the region. By opening visas to Egyptians, Kuwait reflects its desire to consolidate economic and social ties with Egypt and enhance cultural exchange between the two peoples. It can be said that opening visas to Egyptians In Kuwait, it is considered a positive and important step that enhances cooperation and exchange between Arab countries. We hope that this decision will lead to strengthening bilateral relations and deepening understanding and cooperation between the peoples of Kuwait and Egypt. To find out more about the jobs required, log on to LinkedIn and apply through it. from here.
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Jobs required for Egyptian visas to work in Kuwait
Opening visas to Egyptians in Kuwait provides many job opportunities that Egyptians can benefit from. Among the jobs required in Kuwait are:
Conditions required to apply for Kuwaiti jobs for Egyptians
To apply for jobs in Kuwait for Egyptians, there are several conditions that applicants must meet:
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The applicant must have a recognized university degree in a field related to the job applied for, and must have previous experience in the same field, whether inside or outside Kuwait.
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Applicants must have a work permit and legal residency in Kuwait, as Egyptian workers are recruited in accordance with local laws and regulations. Applicants must also be of good conduct and have the ability to abide by work and laws in the receiving country.
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Egyptians have the right to apply for many jobs in the government and private sectors in Kuwait, but the applicant must adhere to the standards of competence and professionalism required for each job, and some companies may prefer to obtain additional certificates or training courses specific to the field for which the applicant is applying.
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Ultimately, adherence to local laws and regulations and respect for Kuwait’s culture and customs are key factors that must be considered by Egyptian applicants for a job opportunity in the country.
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Applicants must demonstrate their willingness to adapt to the new environment and work hard and diligently to achieve success and continuity in the job they seek.
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What specializations are required in Kuwait jobs for Egyptians?
In light of the changing labor market in the State of Kuwait, available jobs require diverse and advanced specializations. Employers are looking for Egyptian employees who specialize in fields such as information technology, engineering, medicine, and management. Job applicants must develop their skills and obtain accredited certificates to increase their chances of obtaining a job. in Kuwait.
The most important thing that distinguishes Kuwait jobs for Egyptians?
Jobs in Kuwait for Egyptians are distinguished by several factors, including salaries that are rewarding and exceed what is paid in Egypt, in addition to the respectful and professional work environment. Many jobs also provide opportunities for promotion and professional development for employees, which makes Kuwait an attractive destination for those looking for stable and rewarding job opportunities.
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The right to apply… After opening visas for Egyptians, 6 jobs are required to work in Kuwait
Sadiq Khan on his way to a hat-trick of London mayoralties
– 2024-05-04 05:39:18
The polling for the election of the mayor of London, the world’s largest multinational city, will be completed in a few hours. Voting will end at 10pm local time on Thursday (May 2). Sadiq Khan, the son of an immigrant family of Pakistani origin, is waiting to be elected as the mayor for three consecutive terms. Sadiq, who worked as a human rights lawyer before joining Labor Party politics, became London’s first Muslim mayor. Sadiq Khan’s father was a bus driver and mother worked as a tailor.
A large population of about 1.7 million Bangladeshis and British Bangladeshis living in Britain live in the capital city of London. In London’s 33 wards or councils, more than half a hundred Bangladeshi-born councilors from the Labor Party solicited votes for Sadiq Khan on behalf of Sadiq Khan at the last minute by phone and text message throughout the day on Thursday. Sylhet Mayor Anwaruzzaman Chowdhury also sought votes for Sadiq Khan in a video message.
The introduction of ultra-low-emotion zones to protect London’s environment has increased costs for motorists under Sadiq Khan. Despite two terms as mayor, Sadiq has managed to build acceptance among young people outside of Labor Conservative bi-party circles.
Five-time councilor and former deputy mayor of London’s Bangalipara Tower Hamlets Council, Ahid Ahmed, told this reporter on Friday night that Sadiq Khan has promised to provide free school meals to schools in London for the next 4 years. Although there are criticisms about the financial capacity to implement such a large project, there is no alternative to Sadiq Khan for the Bangladeshi and immigrant communities. Knowing that he himself has voted for Sadiq Khan, Ahid said, I believe that Sadiq will win by getting at least ten percent more votes.
Mujibur Rahman Jasim, a two-time councilor elected from the Labor Party in Newham Council and a Bangladeshi community leader, said that the number of people working in London is more. Sadiq Khan is in the place of trust of this huge population.
It should be noted that in the latest public opinion poll, Sadiq is far ahead of Tory rival Susan Hall. But analysts say there are some invisible political currents in London. Thursday’s voting rate and postal vote count may also change the equation slightly.
Sadiq Khan says he is in for the toughest fight of his political life, despite Labour’s strong lead in both London and nationally over the Conservatives. Domestic critics have also questioned his strategy.
As Sadiq awaits a victory in the results announced on Friday, he faces a series of crises and continued budget cuts since he was first elected in May 2016. Sadiq Khan was elected MP for the first time in 2005 before being elected Mayor.
The march of Europeans leaving London after Brexit has brought negative messages to London’s economy.
In recent years, issues such as strained relations in the multidimensional community in London over the Gaza crisis, persistent inflation across Britain, continuing generational challenges in affordability, and the decline in the number of inner-city children have come to the fore.
Dr. elected mayor from Tower Hamlets in the nomination of the Conservative Party. Anwara Ali said, people want change. With increasing congestion and housing crisis across London, Gerber electorate’s vote will surely go to the Conservatives’ Susan Hall’s box.
It should be noted that a total of 13 candidates are competing for the post of Mayor of London. Despite the forecast of rain on Thursday, the presence of voters in the center was relatively high as the weather remained good till the time of writing this report at 5:30 pm. It remains to be seen until Friday’s results to see how much voter turnout in Labour-dominated London boosted Sadiq Khan’s chances of a hat-trick of victories.
Sadiq Khan on his way to a hat-trick of London mayoralties – 2024-05-04 05:39:18
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