Share prices of Moncler, the Italian maker of ski and fashion apparel, jumped more than 40 percent in initial trading on the Italian stock market.
The company, whose jackets sell for $1,000 and upwards, priced its shares at €10.20 last week, which was at the top of its projected price range. At that price, the company was valued at €2.6 billion ($3.4 billion).
The bulk of the proceeds from the initial public offering are expected to go to Eurazeo, the French investment company that owns 45 percent of the company, and the private equity firm Carlyle Group.
Remo Ruffini, who bought the company in 2003, is expected to keep his 32 percent stake in the firm.
Under Mr. Ruffini’s leadership, Moncler – a shortened version of the name of the mountain village, Monestier-de-Clermont in Grenoble, France, where the company was founded 60 years ago – grew from an outfitter for the French Olympic ski team into a global fashion brand.
The company, which has 122 stores and also sells its products through department stores and online, posted revenue of €489.2 million last year.
