Italy’s Moncler prepares to float

Italian fashion brand Moncler yesterday came one step closer to a flotation this year after it appointed banks for the process. Bank of America and Goldman Sachs will lead the advisers, Mediobanca Spa will be global coordinator, while Intesa Sanpaolo, JP Morgan Chase, and UBS will be joint bookrunners. It is estimated the IPO, which will see investors sell between 30-35 per cent of the firm, will raise €800m to €1bn.