MADRID, April 8 (Reuters) - Cosmetics group Puig, which owns brands such as Carolina Herrera, Paco Rabanne and Charlotte Tilbury, announced plans to go public on Monday in one of Spain's largest initial public offerings in years.

The family-owned company aims to sell 1.25 billion euros ($1.35 billion) of new shares and an even larger amount of existing stock through the IPO, according to a deal term sheet seen by Reuters.

Puig said a public listing would align its corporate structure with that of other businesses in the premium beauty sector.

"We believe that the balance of being a family owned company that is also subject to market accountability will allow us to better compete in the international beauty market during the next phase of the company's development," Chairman and Chief Executive Marc Puig said in a statement.

The efforts come after two years of muted IPO activity globally and in Spain, as economic and geopolitical uncertainty rocked markets.

With interest rates poised to come down, bankers are now hoping for a revival of IPOs amid high stock prices.

Europe has seen a string of IPOs this year with mixed results. Whilst companies like Swiss skincare group Galderma and defence contractor Renk have soared after their market debuts, perfume retailer Douglas continues to trade below the price of its IPO.

Puig and Spanish travel technology firm Hotelbeds are among the companies considering going public as soon as the first half of the year if market conditions allow, sources have told Reuters.

However, Spanish privately owned logistics group Berge last week dropped plans to list shares in its automotive unit Astara, saying market conditions are not the most appropriate for a flotation.

The last market debut on the Spanish stock market was from Spanish renewable company Opdenergy in July of 2022. ($1 = 0.9232 euros) (Reporting by Pablo Mayo Cerqueiro, Corina Pons, David Latona and Jesus Aguado; Editing by David Goodman and Christopher Cushing)