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Moncler IPO over 12 times oversubscribed

2 Dec 2013

monclerLuxury clothing brand Moncler has reportedly secured offers for shares worth more than 12 times the €785m it plans to raise via an IPO.

Reuters reported the news, citing a source close to the deal.

Subscriptions for Moncler’s stock will close on December 11 and the IPO is expected to take place on December 16.

Last week the company, which is backed by Eurazeo and Carlyle, priced its IPO at between €8.75 and €10.2 per share.

Eurazeo will reduce its 45 per cent stake by 14 per cent, while Carlyle will sell half of its 18 per cent interest, according to a Bloomberg report.

It was previously reported that the company could be valued at €3bn in an IPO.

Moncler, which posted an EBITDA of €161.5m on revenues of €489.2m last year, currently operates 122 single-brand stores in Italy, the rest of Europe, Asia and North America.

Goldman Sachs International, Bank of America Merrill Lynch and Mediobanca will act as joint coordinators for the IPO, while Banca IMI, JP Morgan, Nomura and UBS will serve as joint bookrunners.

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