Coty Inc., the manufacturer of CoverGirl and Lancaster products, experienced a stable performance on its debut trading day on the professional segment of Euronext Paris.
The stock closed the day with a slight decline of approximately 0.1 percent, settling at 10.39 euros. Trading on the exchange commenced at 3:30 p.m. CET.
As of press time, the market value of Coty was $9.558 billion.
At present, Coty plans to control its existing number of shares by voluntarily resolving one or multiple total return swaps that it currently holds. Coty anticipates that such resolutions, if they occur, will take place within the next six months. The number of shares involved in the settlement is expected to be no more than 27 million shares. However, it is important to note that there is no specific transaction to announce at this moment.