MILAN — Salvatore Ferragamo SpA’s road show will kick off today and end June 23, offering shares ranging from 8 to 10.50 euros, or $11.6 to $15.30 at current exchange.
This story first appeared in the June 13, 2011 issue of WWD. Subscribe Today.
The Italian luxury goods company also said it plans to float 22.73 percent of its stock, or 38 million shares. This would value the company at between 1.35 and 1.77 billion euros, or $1.96 billion to $2.58 billion.
The company also said that 90 percent of the shares will be offered to institutional investors in Italy and abroad, and 10 percent to the Italian public. Sources say the first leg of the road show will be held in London, followed by a presentation in Milan on Wednesday and in the U.S. the following week.
Salvatore Ferragamo’s listing on the Milan Stock Exchange is expected by the end of the month. Banca IMI-Intesa Sanpaolo Group acts as joint lead manager and Mediobanca Banca di Credito Finanziario SpA and J.P. Morgan as global coordinators and joint book runners.