Coty reportedly moving ahead with Paris listing

Beauty giant Coty is believed to be going ahead with its second stock exchange listing, with it reportedly planning to enter the Paris Stock Exchange (PAR) as soon as the coming weeks.

Details of the NYSE-listed group’s plans had initially been unveiled in a regulatory filing published in May, with the dual listing idea formulated around the goal of strengthening its presence on the European market and tapping into new investors in the market.

Now, according to Bloomberg News which had first reported on the latest developments, Coty has appointed BNP Paribas and Citigroup to work on the deal, while also understood to be considering raising fresh capital from the listing.

The media outlet further noted that the company was looking to formally announce its plans within the next few days, with a listing to potentially follow shortly after.

The news comes just days after Coty raised its guidance for the full year after seeing “strong momentum” in demand across key markets and categories.

The firm is now expecting FY24 core like-for-like sales growth of between 8 and 10 percent, up from its recent guidance that was in range of 6 to 8 percent growth.