Italian luxury jacket maker Moncler will raise around €784 million ($1.08 billion) in total from its initial public offering after an extra portion of shares was sold on Wednesday. Moncler's listing on the Milan bourse is the biggest IPO in Italy since 2010, Reuters said in a report.
According to the report, Moncler earned €681 million in the IPO for shareholders headed by French investment firm Eurazeo SA and American private equity firm Carlyle Group LP. The Italian clothier sold shares on December 11 priced at €10.20 per share, based on an earlier report by Reuters.
The greenshoe over-allotment option was exercised by arranging investment banks Goldman Sachs Group, Bank of America Merrill Lynch and Italy's Mediobanca. The said over-allotment option is worth a further 15% of Moncler shares sold last week, the report said.
Around 31% of Moncler is now publicly traded on the Milan stock exchange. Trading volumes on Wednesday, the third day of trading, remained above 34,000 shares, Reuters said.
Moncler's shares closed 2.5% higher on Wednesday to €14.50 apiece. It has soared 47% after Monday's IPO debut, the report said.
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