Cucinelli sets restrained range, books open Monday

Italian luxury fashion house Brunello Cucinelli set a price range for its €138m-€158m Milan IPO after enjoying an “over-whelming response” in pre-marketing. Books will be opened on Monday with a price range that even at the top provides a discount to larger, more liquid peers such as Salvatore Ferragamo.

  • 13 Apr 2012

The deal, being run by Bank of America Merrill Lynch and Mediobanca, will sell 8m primary shares and 12.4m secondary shares in the base deal, with a 2.04m share secondary greenshoe at €6.75 to €7.75 each.

Cucinelli could have set the top end higher, said a banker close ...

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