Ferragamo to Raise as Much as 401.9 Million Euros in Milan IPO

Salvatore Ferragamo SpA’s initial public offering may raise as much as 401.9 million euros ($576.2 million), the luxury shoemaker said in a statement.

Ferragamo plans to sell about 38.3 million shares, equal to a 23 percent stake, at a price range of 8 euros to 10.50 euros a share for its offering in Milan, the Florence, Italy-based company said yesterday. The IPO would value the company at as much as 1.77 billion euros.