Moleskine set to float on Milan stock exchange
Moleskine, the maker of the eponymous notebooks said to have been used by Pablo Picasso and Ernest Hemingway, will brave Italy’s tough post-election markets and seek to float on the Milan stock exchange this month.
The Italian luxury brand, which is majority-owned by private equity firm Syntegra, began official talks with investors yesterday. It is set to raise about €300 million when the deal is finalised around Easter, according to those familiar with the talks. The sale will attempt to emulate the recent success of other luxury flotations in Italy, with shares in the cashmere specialist Brunello Cucinelli up 115 per cent since last.
The deal to sell about half of the group’s equity comes against the backdrop of growing confidence in the European IPO market. – (Copyright The Financial Times Limited 2013)