MILAN — Salvatore Ferragamo SpA on Thursday priced its initial public offering in the midrange of its price guidance, setting each share at 9 euros, or $13 at current exchange, in a flotation that values the company at 1.5 billion euros, or $2.1 billion.
The Florence-based luxury house was offering shares ranging from 8 euros to 10.50 euros, or $11.50 to $15.10. Ferragamo plans to float about 25 percent of its stock on the Milan Stock Exchange, in a deal worth 379 million euros, or $545.2 million. The listing will take place June 29.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"