According to Rueters, Italian Outerwear Company Moncler is seeking to raise as much as 785 million euros ($1.06 billion) in a public share sale, term sheets showed on Wednesday.
The size of the goose down jacket maker’s offering could rise by as much as 15 percent to 672-785 million euros if it receives strong interest and the two main shareholders decide to sell more of their stakes through a greenshoe option.
At the bottom of its 8.75-10.2 euro per share price range, the deal will value Moncler at about 2.2 billion euros. The company is due to make its debut on Dec. 16.
Moncler is set to be the third company to start trading on Milan’s main market this year. Notebook maker Moleskine listed in April and freight forwarding company Savino del Bene is expected to list on Dec. 6.
Established in 1952, Moncler’s quintessential quilted Jacket has remained the choice of the world’s most demanding athletes and of great explorers whilst scaling the epic peaks of Karakorum & Makalù. It has infatuated the stars of cinema, the rich, famous, and jet set – from Jackie Kennedy to Madonna.
By Lolita A. Alford