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Clothing retailer Moncler’s IPO oversubscribed 12 times

December 05, 2013 (Italy)

Moncler S.p.A., one of the world’s leading players in manufacturing and distributing high-end clothing for women, men and children, has filed applications with the Italian Stock Exchange for admission to list its ordinary shares on the Telematic Stock Market (Mercato Telematico Azionario).
Moncler is looking to raise as much as 785 million euros (USD 1.07 billion) as the company tries to extend its arms beyond its trademark feather-filled jackets.
Moncler’s initial public offering (IPO) is said to be oversubscribed 12 times with more than a week remaining before the closure of subscription on December 11.
Moncler had earlier cancelled its IPO in 2011, and instead sold its 45 per cent stake to a group led by French investment firm Eurazeo in a deal that valued the company at 1.2 billion euros.
The company was founded in 1952 in France, at Monastier de Clermont, Grenoble. Slowly, the brand was able to blend style with current technological developments.
As at 30th September 2013, Moncler operates a network of 122 single-brand stores, of which 98 are directly managed stores (DOS), as well as operating through a wholesale multi-brand distribution channel. 
Moncler, which recorded total revenue of 489.2 million euros and total EBITDA of 161.5 million euros in the 2012 fiscal year, operates in over 60 countries and four geographical areas worldwide: Italy, Europe, Asia/Japan and North America.
The IPO, as per the company, is organised and managed by Borsa Italiana S.p.A. The Global Coordinators of the transaction are Goldman Sachs International, Bank of America Merrill Lynch and Mediobanca – Banca di Credito Finanziario.
Banca IMI, JP Morgan, Nomura and UBS will act as Joint Bookrunners and BNP Paribas, Equita SIM and HSBC will act as Lead Managers.
In addition, Mediobanca – Banca di Credito Finanziario is acting as Sponsor and Banca IMI is acting as Lead Manager of the retail offering.
For Moncler, Claudio Costamagna and Lazard are acting as financial advisors, Latham & Watkins LLP is acting as Italian and international legal advisor and KPMG is acting as auditor. Linklaters is acting as legal advisor for the Global Coordinators, Joint Bookrunners and Lead Managers.
The stock is set to debut in Milan on Dec. 16.

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