Shares of Moncler, the Milan-based maker of luxury quilted jackets, rose more than 40 percent on Monday after going public on the Milan Stock Exchange.
The company's stock price rose as high as 14.80 euros in early trade after pricing at 10.20 euros in an initial public offering. Shares were 27 times oversubscribed, the firm said in a press release on Friday. The company sold a 31 percent stake, including a "greenshoe" overallotment option, raising close to $1 billion. The sale initially valued the company at more than $3 billion.
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Moncler's listing is the largest IPO (initial public offering) in Italy since Prada in June 2011, according to research firm Dealogic. It's also largest global retail IPO since Michael Kors Holding in December 2011, it said.