Zegna already attracting investors ahead of IPO

WWD has reported that Zegna is already attracting investors ahead of its planned IPO for later this month. The company issued a joint statement with Investindustrial Acquisition Corp., an acquisition corporations sponsored by investment subsidiaries of Investindustrial VII L.P. saying they have agreed “with certain large and institutional investors” on an additional private investment in a public equity facility of up to 125 million dollars “accommodate most of the demand.”

This move was a result of inquiries from several investors whose names were not disclosed. IIAC has raised proceeds of 402.5 million dollars in its IPO. Zegna’s IPO is expected to help the company in its global expansion and elevating its manufacturing capabilities through acquisitions.

The Zegna family will continue with a 62 percent stake in the company. Investindustrial will have an 11 percent stake, and 27 percent will be free floating. Zegna’s valuation after the IPO is projected at 3.2 billion dollars.