Our regular feature, brought to you in association with Strange Nature gin from New Zealand, celebrates memorable scenes, moments, launches and campaigns related to the global aviation and travel retail sphere.
Today’s selection of images is courtesy of beauty conglomerate Coty, which has successfully dual-listed on the Euronext Paris Stock Exchange.
The company is now trading on both the French bourse and the New York Stock Exchange (NYSE).
A photo shared on social media by Coty Chief Commercial Officer for Prestige Caroline Andreotti shows CEO Sue Y. Nabi ringing the Euronext opening bell in celebration of its IPO.
In a LinkedIn post, Nabi said: “We are delighted to have completed our listing on Euronext Paris, a historic moment for Coty. Being traded in the heart of the luxury and beauty industries provides European investors the opportunity to join our accelerating growth trajectory at a pivotal time. This represents a major milestone for Coty and a huge collective effort that we are all tremendously proud of.”
Andreotti said: “What a proud historic moment for Coty now dually listed on Euronext Paris and NYSE. Coty, founded in Paris in 1904 is back to its French roots providing European investors the opportunity to join Coty’s exciting acceleration growth trajectory. Congratulations Sue and Coty Teams on this amazing milestone and a new chapter for our company.”
The initial public offering covers the sale of up to 33 million Class A common shares at US$10.80 apiece. The company offers investors the option to purchase shares either in euros for shares listed on Euronext Paris or US dollars for shares listed on NYSE, based on the spot exchange rates on the pricing date. It is the first America-based company to have introduced such an offer, according to Euronext.
The net proceeds from the offering will be used to retire the principal amount of outstanding debt and for general corporate purposes including strategic investments in its business, working capital and capital expenditure, Coty noted. ✈
