Coty to Seek Dual Listing on Paris Stock Exchange

Coty, the New York-based beauty company, announced that the board has authorized the Company’s management to seek a dual listing on the Paris Stock Exchange.

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Coty, the New York-based beauty company, announced that the board has authorized the Company’s management to seek a dual listing on the Paris Stock Exchange. Coty went public on 2013 June with listing on New York Stock Exchange (NYSE). If Coty start the process of listing its shares on the Paris Stock Exchange (PAR), Coty will become a dual listed company on NYSE and on PAR.

Coty said the dual listing can provide companies with greater access to capital and a broader range of investors, as well as increased visibility in multiple markets. By listing on the Paris Stock Exchange, Coty Inc. would be able to tap into the European investor base and potentially increase its presence in the region.

Coty pointed out that the company has a significant business presence in Europe, including several manufacturing and research and development facilities. The company has a long history in France, where it was founded over 100 years ago and where it still maintains a strong presence. A dual listing on the Paris Stock Exchange would therefore be in line with Coty's heritage and business footprint in Europe.

“Paris is the historic home of beauty, and the industry still holds a special attraction for investors there. The Board’s interest in exploring a potential listing on the Paris Stock Exchange has been made possible thanks to the progress Coty has made under Sue’s leadership”, said Peter Harf, Coty’s Chairman. “We have seen consistent growth over the last 10 quarters, in line with or ahead of market expectations, underpinned by targeted investment, disciplined cost controls and a clear debt reduction program.”

Source: Business Wire