MILAN (Reuters) – Golden Goose’s IPO, the largest on the Italian market for at least a year, attracted investor interest on the first day of placement.
According to the bookrunners, the supply is already fully covered and the demand exceeds the overall amount within the price range.
Golden Goose, which produces luxury sneakers, will debut on Piazza Affari on June 21st with a price range between 9.5 and 10.5 euros, equal to a market capitalization between 1.7 and 1.86 billion euros.
The offer period for the shares, which started today, will end on June 18th. The final price will be announced the following day.
The share offering corresponds to 30% of the company’s capital, without taking into account the overallotment option.
Founded in Venice in 2000, Golden Goose intends to maintain focus on its sneakers, sold for around 500 euros per pair and known for the five-pointed star logo, but is also thinking of expanding into ‘ready to wear’ and accessories.
In 2023 the company achieved net revenues of 587 million euros, an increase of 18% compared to the previous year, with an adjusted Ebitda of 200 million (+19%).
(editing by Claudia Cristoferi, editing by Stefano Bernabei)
