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Book orders for Moncler outpace supply by nearly 30 times

IPO expected at maximum set price of 10.2 euros

11 December, 16:18
Book orders for Moncler outpace supply by nearly 30 times (ANSA) - Milan, December 11 - Book orders on Wednesday closed for Moncler with demand outpacing supply by nearly a factor of 30 just days before the fashion winter-coat specialist is expected to launch its initial public offering (IPO). There was 20 billion euros worth of demonstrated investor interest for shares, which amounted to 29 times the stock on offer. On the 90% of the float reserved for institutional investors, the oversubscription ratio reached 30.

The stock is expected to debut at its fixed maximum price of 10.2 euros, which would giving the company a market capitalisation of 2.5 billion euros. Moncler stock is expected to debut in the Milan bourse on Monday.

Italian entrepreneur Remo Ruffino in 2003 bought the French quilted jacket maker founded in 1952. Ruffino is its president and creative director.

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