Moncler Said to Start Presentations Next Week for Italy IPO

Moncler SpA, the luxury maker of ski jackets, plans to start investor presentations Nov. 11 as it prepares to sell stock in an initial public offering in Milan, according to two people with direct knowledge of the deal.

Moncler, which is controlled by investors led by private-equity firm Eurazeo (RF), will offer shares on behalf of its owners in the IPO, said the people, who declined to be identified because the details are still private. The IPO may raise as much as 1 billion euros ($1.3 billion), said one of the people.

The company, attempting an IPO for the second time in two years, is taking advantage of European stock markets at their highest level in more than five years. Moncler Chairman Remo Ruffini, who doesn’t plan to cut his 32 percent stake in the IPO, last month said that about 25 percent to 30 percent of Moncler will be sold to the public.

At 1 billion euros, the IPO would be Italy’s largest since Enel Green Power SpA sold 2.5 billion euros of stock in November 2010. Investor meetings will last about two weeks, the people said, after which the company will set a price range and shares will be offered to investors.

An official for Moncler declined to comment on the process.

Moncler, known for feather-lined jackets that sell for more than $1,000, picked Bank of America Corp., Goldman Sachs Group Inc. and Mediobanca SpA as global coordinators and Intesa Sanpaolo SpA, JPMorgan Chase & Co., Nomura Holdings Inc. and UBS AG as joint bookrunners, Moncler said in a statement Oct. 14.

Paris-based Eurazeo, which owns about a 32.3 percent equity interest in the skiwear maker, bought a stake in 2011 in a transaction that at the time valued Moncler at no less than 1.2 billion euros, the company said then. Carlyle Group LP holds a 17.8 percent stake.

To contact the reporters on this story: Francesca Cinelli in Milan at fcinelli@bloomberg.net; Elisa Martinuzzi in Milan at emartinuzzi@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net

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