The fashion and perfumery group Puig Brands debuted this Friday on the Spanish stock market with an increase of 8.2% compared to the price set in the initial placement of shares, standing at 26.5 euros.

The price in the first minutes has been marked by volatility. As is traditional in IPOs, the opening auction was held between 11:30 and 12:00, and ended with a price of 25.5 euros, above the 24.5 euros established in the operation.

In the first minutes, the price has risen, reaching 26.5 euros. However, subsequently, the share has reached around 25 euros.

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.”

In fact, after the order book was opened by the placement entities one day after announcing the listing, the cosmetics firm has already achieved oversubscription of the offer, the size of which is up to 3,000 million euros.

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 process ( IPO).

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.”