Furla, one of the group leader worldwide in the production and sale of high quality leader bags and accessories, is preparing for an ipo at the Italian Stock Exchange, joining forces with listed investment company Tamburi Investment Partners (TIP). The latter will subscribe a 15 million euros mandatory convertible loan which will automatically convert into Furla’s ordinary shares at the time of the listing.
In a press release delivered yesterdayi TIP also explained that at the time of Furla’s ipo, “the investment company will subscribe Furla’s shares for other 15 million eurosat the same economic condition which will be proposed to the market. At the listing TIP will also have the right to subscribe, or get third parties chosen by it subscribe, a further quota of the public offer within the already planned family & friends tranche”.
Controlled by the executive chairman Giovanna Furlanetto, Furla reached 339 million euros in consolidated revenues in 2015 (80% out of Italy) up 30% from 2014, with 44 millions in ebitda (up 29%). Furla operates 415 shops in more than 100 countries with more than 1550 employees.
As far as the ipo price won’t be fixed it won’t be possibile to calculate the exact stake that TIP will hold in Furla’s capital. However it is reasonable to imagine that that stake will be inthe range of 5-10%, MF Fashion writes today.
