MONCLER S.P.A. PUBLICATION OF THE LISTS OF CANDIDATES FOR THE APPOINTMENT OF THE NEW BOARD OF STATUTORY AUDITORS AND OF DOUBLE R RESOLUTION. | March 28, 2023
By Reuters Staff
1 Min Read
MILAN (Reuters) - Ruffini Partecipazioni, the investment vehicle of Moncler CEO Remo Ruffini, said on Tuesday it would place shares equal to a stake of around 3.2% in the Italian luxury puffer jacket maker via an accelerated bookbuilding process.
The price guidance for the placement was 48.80 euros, below the stock’s closing price on Tuesday of 50.32 euros, according to one of the bookrunners.
The placement, made to certain institutional investors, follows agreements struck as part of Moncler’s takeover of smaller Italian high-end streetwear and fashion brand Stone Island signed last year.
The move is meant to ensure that Ruffini Partecipazioni’s stake in Moncler does not cross the 25% threshold that, under Italian rules, would trigger a mandatory buyout offer on the outerwear maker.
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