LONDON â€" Moncler, the Italian designer of luxury winter jackets, is set to raise $938.8 million in its initial public offering, which was priced at the top end of the range late Wednesday.
The apparel maker, which abandoned plans to go public in 2011 amid market turmoil, priced its stock at 10.2 euros a share, which means it is set to raise at least €681 million in the offering. Moncler is expected to float at least 27 percent of the company as part of the offering. As a result, the company’s implied equity value is expected to be €2.55 billion, or about $3.52 billion.
The offering was heavily oversubscribed and Moncler has the option to increase the size of the offer by 15 percent, which would value the share sale at €783.6 million.
Moncler’s shares are expected to begin trading on the Milan stock exchange on Monday morning.
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.
The Moncler sale is the latest in a series of luxury brands that have gone 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.
Goldman Sachs, Bank of America Merrill Lynch and Mediobanca are coordinating the sale, with JPMorgan Chase, Nomura, Banca IMI and UBS as joint book runners. BNP Paribas, Equita SIM and HSBC are the lead managers.
