ITALIAN fashion brand Moncler yesterday got the green light from regulators to raise up to €500m (£433.8m) in an initial public offering.
The Milan stock exchange gave clearance for a float of more than 50 per cent of Moncler’s capital, which the firm hopes to complete by the end of June, according to reports.
Moncler has already begun a roadshow to market the float to potential investors, and is expected to start another round of presentations this week.
Books on the offering were due to close either towards the end of June, according to people familiar with the float plans.
Moncler’s IPO will be made up mainly of existing shares – mostly from US private equity firm Carlyle, which owns 48 per cent stake of the company.
The offering is being run by Bank of America Merrill Lynch, Intesa Sanpaolo’s Banca IMI and Morgan Stanley.
Last month Moncler reported 2010 revenues of €429m and a net income of €52m. The firm, best known for its range of goose down jackets, has outlets across Europe and has recently opened stores in Beijing and Seoul.
Moncler also has a branch on Sloane Street in Chelsea.
The firm follows fashion rivals Prada and Ferragamo in planning a summer float. Catwalk titan Prada hopes to become the first Italian company to list in Asia by raising up to $2bn on the Hong Kong market.
Leather goods firm Salvatore Ferragamo applied to list in Milan last month.
Moncler did not respond to requests for comment yesterday.