LONDON - Shares of Moncler, the Italian designer of luxury winter jackets, surged 41 percent on Monday as the company opened its first day of trading on the Milan-based Borsa Italiana.
The apparel maker, which abandoned plans to go public in 2011 because of market turmoil, made its stock market debut after pricing its shares at 10.2 euros, or about $14.03, valuing the company at $3.51 billion. The offering priced at the top end of the expected range late Wednesday and was heavily oversubscribed.
Moncler’s shares were up 41 percent to €14.43 in early trading on Monday.
The bulk of the proceeds from the initial public offering are expected to go to Eurazeo, the French investment company that owns 45 percent of the company, and the private equity firm Carlyle Group.
Remo Ruffini, who bought the company in 2003, is expected to keep his 32 percent stake in the firm.
Under Mr. Ruffini’s leadership, Moncler â€" a shortened version of the name of the mountain village, Monestier-de-Clermont in Grenoble, France, where the company was founded 60 years ago â€" grew from an outfitter for the French Olympic ski team into a global fashion brand.
The company, which has 122 stores and also sells its products through department stores and online, posted sales of €489.2 million last year.
Carlyle had planned to take Moncler public in 2011, but ended up selling a stake to Eurazeo in a deal valued at about €1.2 billion.
Moncler is the latest luxury brand to go public amid growing consumer confidence and an improved economic outlook in Europe. Michael Kors and the Italian brands Prada and Bruno Cucinelli are among those that have undertaken I.P.O.s.
