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Milan Stock Exchange

Moncler Rallies 45% First Trading Day After IPO

Shares of Italian luxury-jacket designer Moncler SpA surged as much as 45% in its first public trading day on the Borsa Italiana in Milan on Monday. The company jumped to 14.80 euros ($20.36), up from the initial-public-offering price of €10.20, and valuing the company at more than €3.50 billion. The IPO price, which was announced on Wednesday, was at the top of the indicative range and gave the company a market capitalization of €2.55 billion. Around midday, the company traded at €14.46, marking a 42% advance. Moncler is the latest in a number of small, Italian luxury-goods companies that are seeking growth without falling prey to the big conglomerates in the sector. In the past few years, companies such as Brunello Cucinelli SpA and Salvatore Ferragamo SpA have opted for IPOs as a way to finance their growth and better compete with larger rivals.Copyright © 2013 MarketWatch, Inc....

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