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.
This story first appeared in the April 16, 2012 issue of WWD. Subscribe Today.
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.