Puma: stock falls as Kering sells part of its stake

(CercleFinance.com) - Kering has announced the sell-down of approximately 8.
9 million Puma shares, representing approximately 5.9% of this group's capital, as part of a placement with qualified investors, through accelerated bookbuilding.

Following the placement, the company will have approximately 4% of Puma's shares in issue, with Puma's free float reaching approximately 66.7%. The net proceeds of the transaction will be used for Kering's general corporate needs and will further strengthen its financial structure.

Half an hour into trading on Thursday, Puma shares were down about 1.3%, underperforming the German index by about 1%, while the Kering stock was down about 0.3%.


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