The landing in Piazza Affari makes the duvets even warmer. Moncler's listing on the Stock Exchange, which will take place between the last week of October and the first week of November, had the first effect of tightening ranks: no shareholder has the slightest intention of abandoning the boat, which seems to be sailing ever more safely in the sea magnum of the fashion industry.
The new shareholders' agreements establish that the initial free float, linked to the takeover bid, will be 27%, but the share put on the market is destined to reach 32-33%, with the exercise of the greenshoe.
Chairman Remo Ruffini will continue to hold 32% of the shares through Ruffini Partecipazioni. In the holding there is also the Tip of the banker Gianni Tamburi. The other investors will reduce their presence, but will not exit the capital. The Eurazeo (45%) and Carlyle (17,76%) funds will halve their share of the pie. Brand Partners 2 (owned by Mittel, Progressio sgr and Isa) will drop from 5% to 1%. The figures are provided by Milano Finanza, which was able to consult the shareholder agreement signed by the shareholders on Thursday 3 October.
Moncler has a pre-IPO valuation of 2,6-2,9 billion euros, while the enterprise value assigned to it two years ago (when Eurazeo joined) was 1,2 billion.
The board that will manage the process of admission to the main list and the first steps – or rather years – of the company in Piazza Affari will be made up of 11 members: 6 will be indicated by Ruffini Partecipazioni, the other 5 will come from private equity funds. Remo Ruffini was confirmed as chairman, while Virgine Sarah Sandrine Morgon, Viviane Akriche and Christian Gerard Blanckaert for Eurazeo, Marco De Benedetti for Carlyle and Sergio Bongiovanni, managing director with responsibility for finance of the fashion company, joined the board.
The IPO will be managed by the advisors Lazard and Claudio Costamagna and by the placers Merril Lynch, Mediobanca, Goldman Sachs, JP Morgan, Banca Imi and Ubs.
