Salvatore Ferragamo will list on Milan Stock Exchange


Following the footsteps of Prada and Jimmy Choo, luxury goods designer and manufacturer Salvatore Ferragamo SpA is treading a familiar path. Instead of following them to Hong Kong, Ferragamo has decided to stay in Italy. They have announced that they will be listing 25% of their company’s stock on the Milan stock exchange. The family-owned business wants to keep its “Made in Italy” roots intact, hence listing it on the Milan stock exchange. They hope to raise €402 million ($578.5 million), listing the shares at €8 to €10.50 per share. The company’s Chairman Ferruccio Ferragamo also plans to pay dividends from their 2011 results. The iconic footwear brand will offer its IPO on June 29th, 2011.
[WSJ]

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