MILAN — The price per share of Internet fashion retailer Yoox Group has been set at 4.30 euros, or $6.46 at current exchange, which values the company at 216 million euros, or $324.5 million. This price positions Yoox shares in the high-end range of the fork indicated for the IPO of between 3.60 euros, or $5.37, and 4.50 euros, or $6.71.
Shares will start trading Thursday on the Milan Stock Exchange STAR segment for small companies.
The Bologna, Italy-based firm, which runs e-commerce sites for brands including Emporio Armani, Diesel, Dolce & Gabbana, Jil Sander, Valentino and Roberto Cavalli, launched its IPO on Nov. 16, expecting to raise as much as 126 million euros, or $187.9 million at current exchange, through the sale of 24.3 million shares.
Shareholders in Yoox include venture capital firms Balderton Capital, Kiwi and Nestor 2000.
Yoox plans to use the proceeds of the IPO to consolidate its business and accelerate growth worldwide, including expanding in Asia.
In the first nine months of 2009, Yoox revenues increased 48.8 percent to 106.7 million euros, or $145.8 million at average exchange. Earnings before interest, taxes, depreciation and amortization reached 7.2 million euros, or $9.8 million, from 2.7 million euros, or $4.1 million, in the same period last year.
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)