ITALY: Moncler prices IPO at upper end of range
Trading of Moncler shares are expected to start on 16 December
Luxury apparel group Moncler has priced its initial public offering at the upper of its indicated range.
The issue price has been set at the top end of the range, amounting to EUR10.20 (US$14.06) per share, the Milan-based company said in a filing to the Italian Stock Exchange. When the placement period ended yesterday (11 December), the offering had been oversubscribed 31 times.
The majority of the proceeds from the IPO will go to French private-equity firm Eurazeo.
"Moncler's unique positioning and accelerated growth over these past two years have convinced investors and guaranteed the success of its stock market listing," said Moncler COO Virginie Morgon. "This transaction confirms that Moncler is an outstanding brand which we will happily continue to support as it still holds superb development potential."
Trading of Moncler shares are expected to commence on 16 December.
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