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Private equity-backed Moleskine fully covers IPO books

22 Mar 2013

stock market_lrgPrivate equity-backed notebooks maker Moleskine has reportedly found indicative buyers for all of the shares that will be offered in its upcoming IPO, which could value the business at €560m.

Investment banks handling the offer have received enough orders to price the IPO at least at the bottom end of the proposed range of €2 to €2.65 per share, the Financial Times said, citing people close to the deal.

It added that the fact that the books were covered only three days after the prospectus was launched means that Moleskine’s owner Syntegra has a good chance of realising €280m from the sale of half of the company.

The report also noted that there have been a number of successful floats over the past months including Russian communications group MegaFon and its German peer Telefónica Deutschland.

Reuters said today that there had been a lot of interest from foreign investors and also said that the books were fully covered, citing two sources.

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