GOING IN DEEPER: Tamburi Investment Partners purchased an additional 570,749 shares of Intercos Wednesday, bringing its total to 2,853,746 shares at the non-binding offering price of 3.50 euros to 4.50 euros per share, or roughly $4.40 to $5.50 at current exchange rates. Intercos will wrap up its road show, which was exclusively open to institutional investors today.

Italian stock market regulator Consob approved the cosmetic firm’s bourse debut on Oct. 1. Founded in 1972, Intercos, which develops and produces high-tech, fashion-savvy cosmetics for leading international brands, will list on the STAR segment for small companies and make its official entrance on the stock exchange next Wednesday.

This story first appeared in the October 9, 2014 issue of WWD. Subscribe Today.

Intercos founder and president Dario Ferrari told WWD that he had toyed with the idea of an IPO in 2006 but, given the poor economic climate, decided to wait. Over the past several years, “we took the company and brought it to a new level,” Ferrari said, citing heavy investments in global infrastructure and product innovation and noting that its stock-market listing will allow Intercos to further boost all product categories.

Intercos currently has offices and production facilities in 15 countries.

Ferrari added that, in a saturated cosmetics market with rapidly changing distribution models, Intercos’ own digital expansion and ability to serve customers from directly operated sites around the world had put the company in a highly competitive position. In the future, he said, “we’ll need to consolidate Brazil,” where Intercos is already present, and further develop production capacities in Asia, which the firm entered more than a decade ago. “We had considered India, too, but I would say it’s a little premature,” he observed.

load comments
blog comments powered by Disqus