Even at the top end of the company’s price target, Moncler could not begin to meet demand for its shares. Institutional investors placed orders for 1.86 billion shares of the stock, or 31 times what was available for sale. Demand came from leading international investors, with a broad geographical diversity, including qualified investors in the United States, Europe and Asia.
Moncler is offering another 6.68 million shares to Italian retail investors, while the same number will be offered to Japanese investors via an unlisted offering. All shares are expected to begin trading on the Mercato Telematico Azionario (MTA) in Italy Monday, Dec. 16 subject to the issuance of the beginning of trading notice by Borsa Italiana S.p.A.
Affiliates of the private equity firms Eurazeo, S.A. and Carlyle Group are using the $800 million global offering to trim their holdings in the company from 45 to 31 percent and 18 to 9 percent respectively.
The Joint Global Coordinators of the Global Offering are Goldman Sachs International, BofA Merrill Lynch and Mediobanca – Banca di Credito Finanziario S.p.A. Banca IMI S.p.A. is acting as Placement Manager for the Italian Public Offering while Mediobanca Banca di Credito Finanziario is acting as Joint Lead Manager for the Italian Public Offering and Sponsor.
Banca IMI, JP Morgan, Nomura and UBS are acting as Joint Bookrunners and BNP Paribas, Equita SIM and HSBC are acting as Joint Lead Managers.
For Moncler, Claudio Costamagna and Lazard are acting as financial advisors, Latham & Watkins LLP are acting as the Italian and international legal advisors and KPMG are acting as auditors.
Linklaters are acting as the Italian and international legal advisors for the Joint Global Coordinators, the Joint Bookrunners and the Joint Lead Managers.
About Moncler :
Moncler was founded in France, in Clermont, Grenoble, in 1952 and is currently headquartered in Italy. Since Chairman and Managing Director Remo Ruffini acquired control in 2003, Moncler has combined its expertise in technical ski and mountaineering apparel with style to create collections that combine the functionality of sophisticated outwear with the style of urban life. Moncler produces and directly distributes Moncler clothing collections and accessories, including Moncler Gamme Rouge, Moncler Gamme Bleu, Moncler Grenobleand Moncler Enfant, through more than 130 directly-operated boutiques and exclusive department stores and international multibrand stores.
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