Moncler Owners to Raise as Much as $1.1 Billion in Skiwear IPO After Cucinelli and Ferragamo Tripled Since Listing in 2012 and 2011 Respectively

Moncler Owners to Raise as Much as $1.1 Billion in Skiwear IPO

Moncler, the Italian maker of $1,220 quilted polyester jackets, will sell shares in a second attempt at an initial public offering next month, raising as much as 783 million euros ($1.1 billion) for the company’s owners. The IPO will raise 585 million euros to 681 million euros and a so-called greenshoe option for underwriters may increase the size of the offering by 15 percent, according to terms of the deal. The stock will be priced between 8.75 euros and 10.20 euros, Moncler said in a statement late yesterday.Moncler is seeking to repeat the IPO success of Cucinelli, the maker of $3,195 cashmere cardigans, and Salvatore Ferragamo SpA (SFER), which sells $675 patent-leather platform heels. Shares in both companies have about tripled since they were listed in Milan in 2012 and 2011, respectively, encouraging Moncler’s owners to make a second attempt at an IPO in as many years.

The skiwear maker aborted plans to list in 2011 in favor of a sale to French private-equity firm Eurazeo SA. (RF) Eurazeo, the owner of a 45 percent stake, will sell 14 percent in the IPO, the terms show. Carlyle Group Inc., which owns 18 percent, will sell half its holding.

About 27 percent of the stock will be publicly traded after the IPO, or 31 percent if the greenshoe option is exercised.

The pricing will be announced on Dec. 11 and trading in the shares will commence Dec. 16, according to the deal terms.

To contact the reporter on this story: Paul Jarvis in London at pjarvis@bloomberg.net

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: