Syntegra to Go Ahead With Moleskine IPO in Italy: PartnerRuth David
Syntegra Capital plans an initial public offering for Italian notebook maker Moleskine in the first half of this year, a partner at the fund said.
Syntegra, which is based in London and owns about 68 percent of Moleskine, will retain a significant share in the company after the IPO, said Marco Ariello, a partner at the fund. The IPO will be a mix of new capital and stakeholders selling shares, he said.
Borsa Italiana said Jan. 8 that it had approved Moleskine’s listing plan. Ariello declined to comment on the valuations of the company or the size of the stake Syntegra would sell.
Ariello’s comments come at a time when some Italian companies say they will shelve fundraising plans after the country’s elections produced a hung parliament and renewed market tension over Europe’s debt crisis.
Jeweler Pomellato SpA said this week, after the election results were known, that it would postpone its IPO.
“It forces us to look into alternative courses of action,” chief executive officer Andrea Morante told Bloomberg Television on Feb. 26. “You have to look at other sources of capital.”