Private equity-backed luxury clothing group Moncler soared more than 40 per cent on its first day of trading on the Borsa Italiana.
Moncler, which is famous for its winter jackets, priced its IPO at €10.20 per share and saw its share price jump to over €14.50 today. The indicative range for the IPO was set at between €8.75 and €10.2 per share in November.
The IPO was heavily oversubscribed with the company receiving offers for 27 times the amount of stock it offered, according to Bloomberg.
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 Bloomberg.
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.
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