Moncler's IPO Steps It Up
Moncler has announced its successful IPO on the Telematic Stock Market (Mercato Telematico Azionario (MTA)) of the Italian Stock Exchange (Borsa Italiana). When the placement period ended on December 11, 2013, the offering had been oversubscribed 31 times.
The issue price has therefore been set at the upper end of the range, amounting to €10.20 per share.
Should the overallotment option be exercised, ECIP M will own 23.3% of share capital and Eurazeo will own 19.7% indirectly.
In the space of only two years, Eurazeo will therefore achieve an implicit multiple of 2.75x invested capital and generate proceeds of nearly €270 million if the overallotment option is exercised.
Virginie Morgon, Eurazeo's Chief Operating Officer stated: "Moncler's unique positioning and accelerated growth over these past two years have convinced investors and guaranteed the success of its stock market listing. This transaction confirms that Moncler is an outstanding brand which we will happily continue to support as it still holds superb development potential".
With a diversified portfolio of over 4 billion euros in assets, Eurazeo is one of the leading listed investment companies in Europe. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. Eurazeo is present in several Private equity segments through its four business divisions - Eurazeo Capital, Eurazeo Croissance, Eurazeo PME and Eurazeo Patrimoine. Its solid institutional and family shareholder base, its lack of debt and its flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo is notably either a majority or key shareholder in Accor, ANF Immobilier, APCOA, Elis, Europcar, Foncia, Moncler, Rexel, Fonroche Energie, 3SP Group, IES, Idéal Résidences, Péters Surgical, Cap Vert Finance, Léon de Bruxelles and Dessange International. Eurazeo is listed on the NYSE Euronext Paris.ISIN: FR0000121121 - Bloomberg: RF FP - Reuters: EURA.PA
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