MILAN — After receiving the approval to list on the Milan Stock Exchange, Brunello Cucinelli SpA on Friday priced its initial public offering of shares at between 6.75 euros, or $8.87 at current exchange, and 7.75 euros, or $10.20, valuing the company at between 405 million and 465 million euros, or $532.3 million and $611.2 million.
Including a capital increase, the Italian luxury fashion firm is assessed at between 459 million and 527 million euros, of $603.3 million and $692.7 million.
According to the IPO prospectus published in newspapers on Friday, the company aims to raise 151 million euros, or $198.4 million, from the offer.
Brunello Cucinelli is offering 20.4 million shares, or a 30 percent stake in the company (33 percent with the Greenshoe option), and its road show will run from today through April 27.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)