Ovs spa, the Italian casual-wear retailer chain owned by retailer Gruppo Coin, filed requests last August 1st to Borsa Italiana for admission to listing its shares on the Italian Stock Exchange and to the Italian finanzial markets supervisory authority, Consob, for a go-ahead to the Prospectus of the global offer. The latter was expected to consist only of a capital increase without any sale of shares. Instead the press release says it will consist in both (download here the press release).
Global coordinators of the deal are Banca Imi, Bank of America Merrill Lynch, Goldman Sachs ande UniCredit, while Credit Suisse and HSBC Bank will act as joint bookrunners. Banca Imi will also be responsible of the placement in the public offer and sponsor. Latham & Watkins law form will advise Ovs and PwC will be independent auditor. Lazard will be financial advisor and Facchini Rossi & Soci the fiscal advisor. Gruppo Coin will be advised by Bonelli Erede Pappalardo law firm, while White & Case law fir will advise the banks.
Pan-european private equity operator BC Partners and its coinvestors in the Italian retailer gruppo Coin (Italian private equity operator Investindustrial and Canadian Ontario Teachers Pension Plan) gave mandate to banks at the beginning of last July in order to prepare the listing on the Italian Stock Exchange of Ovs next Autumn (see here a previous post of BeBeez).
Ovs ipo is actually a coming back as in 2011 Coin had been delisting from the Italian Stock Exchange with a takeover offer by BC Partners.
in year 2012-2013 (ending 31st January 2013) Ovs revenues were 973.1 million euros out of 1.465 billions of the whole Coin group, with a 136 millions ebitda out of 150 millions.
