THE WHAT? Coty has announced the launch of a global offering of 33 million shares of Class A common stock and that it has applied for the listing and trading of its Class A Common Stock on the professional segment of Euronext Paris.
THE DETAILS Investors will have the option to purchase Coty shares either in euros for shares listed on Euronext Paris or US dollars for shares listed on the New York Stock Exchange.
THE WHY? The company intends to use the net proceeds to retire principal amount of outstanding debt in the main as well as general corporate purposes, such as strategic investments in its businesses, working capital and capital expenditures.