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Golden Goose targets $2 billion market cap in Milan IPO
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MILAN (Reuters) – Golden Goose is aiming for a market capitalization of up to 1.86 billion euros ($2 billion) in its initial public offering on the Milan bourse, the Italian luxury sneaker maker said on Tuesday.
MILAN (Reuters) – Golden Goose is aiming for a market capitalization of up to 1.86 billion euros ($2 billion) in its initial public offering on the Milan bourse, the Italian luxury sneaker maker said on Tuesday.
The company set the price range for the share listing between 9.50 euros and 10.50 euros each and the free float will be equal to 30% of the company share capital, before the exercise of the greenshoe option, it said in a statement.
Golden Goose, whose shoes sell for around 500 euros a pair, was valued at 1.3 billion euros when it was acquired by private equity firm Permira in 2020.
The first day of trading is expected on June 21.
($1 = 0.9287 euros)
(Reporting by Elisa Anzolin, editing by Giulia Segreti)
An IPO, or Initial Public Offering, is the process through which a private company offers its shares to the public for the first time, allowing it to raise capital from public investors.
Market capitalization, or market cap, is the total market value of a company's outstanding shares of stock, calculated by multiplying the share price by the total number of shares.
Equity represents ownership in a company, typically in the form of shares. It reflects the value of the owner's stake in the company after liabilities are deducted.
A share listing refers to the process of a company's shares being made available for trading on a stock exchange, allowing investors to buy and sell shares.
A greenshoe option is a provision in an IPO that allows underwriters to buy additional shares from the issuer if demand exceeds expectations, stabilizing the stock price.
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