Moncler stock soars 44% to 14.77 euro on IPO

IMG class=hide alt=”Moncler stock soars 44% to 14.77 euro on IPO” src=”http://www.mineralfossil.com/wp-content/uploads/2013/12/wpid-8f9c1b9b8d7de252d9b589d3524be38a.jpg” (ANSA) – Milan, December 16 – High fashion winter jacket maker Moncler saw its stock price soar 44% to 14.77 euros at its Monday debut on the Milan bourse. PBook orders last Wednesday were oversubscribed by nearly a factor of 30 just days before the initial public offering (IPO), with 20 billion euros worth of demonstrated investor interest for shares./PPThe stock debuted at its fixed maximum price of 10.2 euros./PPThe price gave the company a market capitalisation of 2.5 billion euros, but has now reached more than 3.5 billion./PPLuxury fashion investors that bought stock Moncler include Salvatore Ferragamo, Ermenegildo Zegna, Loro Piana, LVMH owner Bernard Arnault and Diesel founder Renzo Rosso./PPBut 90% of the float was reserved for institutional investors./PPThe sovereign wealth funds of Qatar, Singapore, China and Abu Dhabi were among them./PPItalian entrepreneur Remo Ruffino in 2003 bought the French quilted jacket maker founded in 1952, and is its president and creative director./P
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