Coty has officially confirmed its listing on the Paris Stock Exchange.
The beauty goliath, which owns Covergirl, Hugo Boss and Kylie Cosmetics, launched with an initial global offering of 33 million shares of Class A common stock.
Coty has also applied for its listing and trading to be placed on the professional segment of Euronext Paris trading bourse.
The application is subject to approval from the Autorité des Marchés Financiers, France’s stock market regulator.
“The company intends to use the net proceeds from the Offering primarily to retire principal amount of outstanding debt,” Coty said in a statement.
“Other uses include general corporate purposes, such as strategic investments in its business, working capital and capital expenditures.”
It comes after Coty confirmed in May that it was exploring a listing on the Paris Stock Exchange.
It was previously only listed on the New York Stock Exchange in the US, where the company is headquartered.
The beauty giant said, at the time, that the move could attract more investors in the European market and strengthen its presence in the region.
The dual listing comes after the company increased its outlook for the first half and full year of fiscal 2024.
This was on the back of stellar sales of Coty’s newly launched Burberry Goddess fragrance.
As well as Burberry, Coty has the fragrance and beauty licences for labels including Chloé and Gucci.
It recently extended its deals with sportswear brand Adidas and long-term partner Davidoff.
