2024 was the most prolific year of exits to the Spanish stock market since 2021 and the market expects this trail of premieres to continue in 2025. At the moment, investors already expect the first touch of bell of the year. This Thursday, Hotel Beds will begin its journey as a quoted company and will do so at a price of 11.5 euros per share. The tourist company faces, however, a somewhat hostile market environment with the new additions: The last premieres leave more than 10% of its value from their respective premieres.
Last year, Puig brought the rain to a market that was totally dry in stock premieres. His jump to the national parquet was not only the largest in Europe last year, but The largest in the Spanish Stock Exchange in nine years. The company of Premium Beauty He managed to place more than 2.5 billion euros. A company did not raise so much money since Aena played the bell in 2015.
The Catalan company gave the bell touch on May 3 at a price of 24.50 euros per share and a market value of 13.9 billion euros. Just two months later, the company was selected to occupy one of the 35 exclusive armchairs that make up the IBEX. But, although the business of this company resides in luxury and beauty products, the truth is that its price is not exhibiting its best galas. Since he took the leap to theo, The group loses more than 26% of its stock market value And almost 3,600 million euros are left on this path of just over nine months as quoted and their shares quote at 18 euros.
Unlike the investment feeling, analysts trust the recovery of the value of Puig over the next months. In fact, the company is currently raised as the best purchase recommendation in The Ibex League (The combined of electionomista.es which is done with the means of the recommendations of Bloomberg and FACTSET). Experts also establish the value of the signing actions of Premium Beauty above the starting price. Specifically, they estimate that Puig should finish 2025 in 25 euros per share which, on current levels, leaves him A 38%bag potential.
“Puig offers a convincing structural growth history. This is a commitment to the current rise of world-scale fragrances-how world actor-together with exposure to super-premium fragrance niches for prestigious growth, prestigious makeup and to the market of cutaneous dermatology. Love Brands own and internationalization, “he uses from JP Morgan.
The market expected Puig’s bell touch to encourage other companies to debut in the Spanish parquet. Europastry was the one that was closer to jumping to the Spanish stock market in the following months, but finally claiming worse market conditions they canceled its IPO.
We had to wait until November to confirm, almost in extremis Of the year, two other exits with the leading one: Imcerment and Cox, with only three days apart, they debuted in November in the Spanish market. These companies have not all had them and they also go back since they started quoting three months ago.
Without official bell touch event, immoration (result of the FCC splitting of its real estate businesses [FCyC] and cement [Cementos Portland Valderrivas-CPV]) began its stock market journey on November 12, with a market value of 1,933 million euros. Since then, this company, which still does not have analysts’ assessments, 12% collapse in the Spanish market and reduces its capitalization to just over 1.5 billion.
On November 15 and after a process that raised many doubts, COX was the third and last company to become a public company in Spain in 2024. He debuted in the National Stock Exchange at a price of 10.23 euros per share, which meant a Capitalization of 805 million euros.
Three months after that bell touch, which made on November 15, its market value is almost 100 million euros lower, which means A 10% drop in this new era as a quoted company.
For her, however, the first assessments of the experts have begun to arrive and already collect up to three opinions: JB Capital Markets, Citi and Grupo Santander. All of them set the value of the company above the IPO price.
The first of the investment houses offers the most optimistic vision, as it values Cox’s shares at a price of 17 euros, which leaves an 85% bullish potential for the coming months, with which the energy company would reach a maximum A market value of 1,320 million euros. JB’s recommendation is to buy your titles. Santander estimates the price of the group in the stock market at 15.40 euros per share (1,196 million euros of capitalization) and gives it a potential of 68%. It also recommends buying Cox in the stock market. Finally, from CITI, the only investment bank that gives it a keep your actions; They believe that the firm could assert 11.90 euros. That is, COX would have at least a 30% route for the following months. “The current price of the action reflects a small discount with respect to operational assets, since we believe that the market wants to see the delivery of successful projects before paying for growth in advance, which makes this largely History of “Teach Me”, “they allege from Citi.
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