Italian fashion house Valentino plans to list on the Milan stock market sometime from late 2018, with its Qatari owner planning to sell around a quarter of the company in an initial public offering of shares, a source close to the matter said.
“Mayhoola intends to carry out this operation as it wants to accredit itself in the world of finance, bringing to the market a company that is expected to gain even more value once it is floated,” the source said.
Valentino would list on Milan’s main market, which requires a free-float of at least 25 percent. Valentino declined to comment. Mayhoola did not respond to a phone call and email requesting comment.
The group reported sales of 1.1 billion euros and core profits of 206 million euros in 2016. Chief Executive Stefano Sassi said in June he hoped for a double-digit growth in sales this year.
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