Carlyle says goodbye to Moncler. The American fund has completed the sale of 7,13% of the duvet company's capital through an accelerated bookbuilding process. The sale took place at a price of 12,04 euros per share (with a 0,5% discount on yesterday's closing price), for a total consideration of 215 million.
In the wake of the news, today in mid-morning Moncler's share on the stock exchange is down 0,6%, at 12,03 euros, after having touched a low for the day at 11,81 euros.
Carlyle, through the Cep III vehicle, has thus canceled its stake in Moncler. On June 16, the 180-day lock-up deadline that the fund had undertaken to respect in the IPO phase expired.
"Moncler's average trading volumes are around 1,2 million pieces a day and this means that the placement corresponds to about 15 trading days", wrote the analysts of Kepler Cheuvreux today in a note, who maintain the rating on the title buy and target price at 14 euros.
However, Kepler's exit is not a signal to Kepler that other shareholders may want to exit any time soon, because the fund has simply completed a successful operation that began six years ago. Furthermore, the other major shareholder, Eurazeo, which entered in 2011, recently declared its intention to maintain its stake in Moncler.
