(Reuters) – Coty announced on Monday that it had filed an application for a second listing on the Paris Stock Exchange and an offer to issue 33 million shares.
The American cosmetics group, already listed in New York, plans to use the proceeds from its issue offer to reduce its debt and to invest in its activities.
BNP Paribas, Crédit Agricole Corporate and Investment Bank, Citigroup and Santander are the joint lead managers for the offering of issues and the listing agents for the listing in Paris.
Founded in Paris in 1904, Coty said in May it was exploring the possibility of a dual listing in the French capital to capitalize on European investor interest in a region that is home to many luxury companies, including LVMH and L’Oréal. .
Coty generates approximately 45% of its annual net sales in the EMEA (Europe, Middle East and Africa) region.
On Wall Street, Coty shares fell more than 4% in after-hours trading.
(Reporting by Deborah Sophia and Ananya Mariam Rajesh in Bangalore, French version Claude Chendjou, editing by Kate Entringer)
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