MILAN – The Yoox and Net-a-porter merger was completed Friday as it was approved by Consob, Italy’s Bourse watchdog. The new, fused company will be publicly listed here on Monday.
Yoox is expected to increase its share capital on Monday by an overall nominal amount equal to a little more than 655,995 euros, or $732,696 at current exchange, issuing 65,599,597 shares, including 20,693,964 ordinary shares and 44,905,633 shares with no voting rights, with a one-to-one merger ratio.
The newly issued shares will be assigned to Richemont Holdings U.K. Limited, as the sole shareholder of Largenta Italia. Net-a-porter shares merged into the new company Largenta Italia, which then merged into the Yoox group. On Monday, the 20,693,964 newly issued ordinary shares will be admitted to listing in Milan. Therefore, share capital will be equal to a little more than 1,277,339 euros, or $1,426,490, entirely issued and fully paid up.
