Italian Design Brands (IDB), a cluster of Italian companies specializing in luxury furnishings and design, announced at the end of April that it intends to list on the Milan stock exchange in early May. A sign of the extraordinary dynamism of the interior design market.
Despite a turbulent stock market context, marked by the war in Ukraine and galloping national and international inflation, the Italian Design Brands group chose to enter the Milan Stock Exchange in early May after a two-year pandemic. A market regulated and organized by Borsa Italiana.
IDB, one of the most important holding companies specializing in high-end furniture and design in Italy, includes luxury sofa makers Gervasoni and Meridiani, as well as lighting designer Davide Groppi and kitchen designer Cubo Design.
The group said in a statement that the offer would include new shares worth 70 million euros ($77 million) and existing common stock.
The capital increase is to be used to fuel the group’s strategy and finance M&A activities.
IDB said that the objective is to reach a free float of at least 25% of the share capital at the end of the listing.
The company added that the final structure of the offering will be determined later in the wake of the IPO.
Citigroup and Equita will act as global coordinators and book-runners for the IPO.
In March, the group announced that it had achieved 2022 revenue of €266.5 million, up 84.8 percent year-on-year. By 2021, the group had generated €145 million ($158 million) in revenue, with a core profit margin of about 16 percent.
Featured photo : © Gervasoni1882 – A brand of Italian Design Brands (IBD)