Artémis, the holding company of French entrepreneur François Pinault, announced a new €500 million bond offering in Germany convertible into Puma shares in 2025.
Artémis attained a 29 percent stake in Puma following Puma’s spinoff from Kering, a company controlled by Pinault, in 2018. With the convertible bond offering, Artemis indicated the conversion premium would be between 35 percent and 40 percent over the reference share price of Puma, a similar premium to that indicated by Kering in 2019. At full conversion, Artemis expects its stake in Puma to shrink to approximately 25 percent.
Artémis, the holding company of French entrepreneur François Pinault, announced a new €500 million bond issue in Germany convertible into Puma shares in 2025.
Artémis attained a 29 percent stake in Puma following Puma’s spinoff from Kering, a company controlled by Pinault, in 2018. With the convertible bond offering, Artemis indicated the conversion premium would be between 35 percent and 40 percent over the reference share price of Puma, a similar premium to that indicated by Kering in 2019. At full conversion, Artemis expects its stake in Puma to shrink to approximately 25 percent.
Photo courtesy Retail Gazette
