By  on September 9, 2009

MILAN — Online retailer Yoox Group has decided to push ahead with an initial public offering despite the uncertain financial markets. Shareholders of the Bologna, Italy-based e-tailerapproved the IPO on Tuesday. Yoox is expected to list on the Milan Stock Exchange STAR segment for small companies by yearend.

The global offering will include ordinary shares generated by a capital increase, which was approved on Tuesday, and shareholders’ shares. Goldman Sachs International and Mediobanca-Banca di Credito Finanziario are joint global coordinators and Eidos Partners is acting as financial adviser.

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