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Milan - Italian luxury shoemaker Salvatore Ferragamo's initial public offering is fully covered, sources close to the matter said on Wednesday.
The company was valued at up to €1.77bn in the IPO, whose roadshow started in London on Monday, moving to Milan on Wednesday.
"The book is already fully covered," one of the sources said. A second source confirmed this. Neither gave detail on where in the price range the IPO was covered.
The luxury goods maker aims to raise up to €402m from an IPO in Milan that values the shoemaker more highly than European peers. The Tuscan family-run company, which first considered listing in 2008, has set an indicative share price range of €8.0 to €10.5 for the 38.3 million IPO shares, representing 22.7% of its capital.
The company was valued at up to €1.77bn in the IPO, whose roadshow started in London on Monday, moving to Milan on Wednesday.
"The book is already fully covered," one of the sources said. A second source confirmed this. Neither gave detail on where in the price range the IPO was covered.
The luxury goods maker aims to raise up to €402m from an IPO in Milan that values the shoemaker more highly than European peers. The Tuscan family-run company, which first considered listing in 2008, has set an indicative share price range of €8.0 to €10.5 for the 38.3 million IPO shares, representing 22.7% of its capital.
