Ferragamo prepares for IPO




Italian luxury goods company Salvatore Ferragamo SpA, which is majority-owned by the Ferragamo family, has presented a request to list its shares on the Italian stock exchange,

the

Wall Street Journal

reported.

An initial public offering could take place by late June, according the report.

The company is also weighing placing its shares with institutional investors in the U.S. and Japan, the

Journal

article said.

The founder’s wife, Wanda Ferragamo, and son, Ferruccio Ferragamo, will serve on the company’s board, which will have 11 members when the company is listed, according to the report. Other board members will be non-family CEO Michele Norsa and the family’s business partner, Peter Woo. The company’s financial subsidiary Ferragamo Finanziaria sold an 8% stake to the Hong Kong-based Woo family in March, the

Journal

report noted.

Last year, “the company shook off the economic-crisis doldrums that prevented it from listing its shares in previous years,” the

Journal

article said. Its sales rose 26% to $1.13 billion, according to the report. (Source:

Wall Street Journal,

April 14, 2011.)

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