Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Bank of America Corp    BAC

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Brunello Cucinelli's IPO Values Cashmere Maker At EUR527 Million

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/13/2012 | 03:52pm CET

Brunello Cucinelli has set the indicative price range for its initial public offering between EUR6.75 a share and EUR7.75/shr, valuing the Italian cashmere clothing maker at up to EUR527 million, according to an announcement published in a local newspaper Friday.

Cucinelli, whose sweaters are worn by Prince William, movie stars and other public figures, published the announcement with details of the IPO in newspaper Il Sole 24 Ore one day after obtaining final regulatory approval to go ahead and list its stock in Milan, the first for the exchange this year.

Cucinelli, owned by the entrepreneur of the same name, plans to offer 20.4 million of its shares, or 30% of the total. Its IPO will run from April 16 to 27. If a greenshoe option is fully exercised, the free float will reach 33% of the share capital.

The proposed price at the top end of the range gives Cucinelli an enterprise value-to-Ebitda multiple of 12.8 times, and a price/earnings ratio of 22.9 times.

Bank of America Merrill Lynch (>> Bank of America Corp) and Mediobanca SpA (>> Mediobanca Group) are the global coordinators.

Cucinelli follows peers Salvatore Ferragamo SpA (>> Salvatore Ferragamo Italia SpA), which listed its stock in Milan last June, and Prada SpA (1913.HK), which opted to list in Hong Kong to take advantage of the popularity of Italian fashion brands in Asia.

Outside of the fashion world, companies have been more cautious about going public in light of the volatile market conditions.

Italy's rocket propulsion maker, Avio, has postponed its plans to list.

In 2011, Cucinelli had sales of EUR243 million, of which 70% came from overseas. Its earnings before interests, taxes, depreciation and amortization, or Ebitda, reached EUR40 million.

It operates in more than 50 countries through a network of 60 single-brand boutiques and more than 1,000 selected multi-brand outlets and top luxury department stores.

-By Gilles Castonguay, Dow Jones Newswires; +39 02 5821 9908; gilles.castonguay@dowjones.com; Twitter: @GRCastonguay

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on BANK OF AMERICA CORP
12/03 BANK OF AMERICA : Suspect hits two banks on one block
12/03 AEGON : Transamerica to close most California operations, eliminate Folsom jobs
12/02DJMorgan Stanley Toughens Pay Hurdles for Brokers
12/02 BANK OF AMERICA : Names Midge Campbell-Thomas Market President for Ventura-Santa..
12/02 ATLANTA’S NEW RETIREMENT : Not Retiring
12/02 CHICAGO’S NEW RETIREMENT : Not Retiring
12/02 ORANGE COUNTY’S NEW RETIREMENT : Not Retiring
12/02 DALLAS’ NEW RETIREMENT : Not Retiring
12/02 LOS ANGELES’ NEW RETIREMENT : Not Retiring
12/02 THE NEW RETIREMENT : Not Retiring
More news
Sector news : Banks - NEC
12/02 BARCLAYS : Deutsche Bank to pay $60 million to settle U.S. gold price-fixing cas..
12/02 Trump creates business advisory council stacked with CEOs
12/02DJDeutsche Bank to Cut Off Around 3,400 Clients
12/02DJCIT : Mnuchin, Tapped for Treasury Secretary, Leaves CIT and Sears Boards
12/02DJSingapore to Ban Former Goldman Banker in Connection With 1MDB Scandal -- 2nd..
More sector news : Banks - NEC
News from SeekingAlpha
12/03 Catch 22?
12/02 5%+ DIVIDEND YIELD PORTFOLIO : Trump And The No Good, Very Bad Month (Nov 2016 R..
12/02 Sell Bank Stocks Today If...
12/02 Banks retreat along with rates; REIT rise
12/02 U.S. BANKS : Just The Beginning?
Advertisement
Financials ($)
Sales 2016 85 050 M
EBIT 2016 27 070 M
Net income 2016 15 718 M
Debt 2016 -
Yield 2016 1,17%
P/E ratio 2016 14,82
P/E ratio 2017 13,28
Capi. / Sales 2016 2,52x
Capi. / Sales 2017 2,46x
Capitalization 214 530 M
More Financials
Chart BANK OF AMERICA CORP
Duration : Period :
Bank of America Corp Technical Analysis Chart | BAC | US0605051046 | 4-Traders
Full-screen chart
Technical analysis trends BANK OF AMERICA CORP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 20,1 $
Spread / Average Target -5,4%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Brian T. Moynihan Chairman, President & Chief Executive Officer
Eugene M. McQuade President & Director
Catherine P. Bessant Co-COO & Chief Technology Officer
Thomas Kell Montag Co-Chief Operating Officer
Paul M. Donofrio Chief Financial Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
BANK OF AMERICA CORP25.49%214 530
JPMORGAN CHASE & CO.23.58%291 986
WELLS FARGO & CO-1.43%269 095
INDUSTRIAL AND COML BA..-1.31%230 206
CHINA CONSTRUCTION BAN..-3.29%187 660
CITIGROUP INC8.97%159 642
More Results