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UPDATE 1-Moncler seeks listing on Milan bourse

Published 04/05/2011, 02:01 PM
Updated 04/05/2011, 02:04 PM
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* Revs last year 429 million euros

* Listing had been seen by summer

(Adds details, background)

MILAN, April 5 (Reuters) - Outerwear maker Moncler, known for its trendy goose down jackets, is seeking an initial public offering (IPO) on the Milan bourse, the company said on Tuesday.

Global coordinators are Intesa Sanpaolo's Banca IMI, Morgan Stanley and Bank of America Corp's Merrill Lynch, it said in a statement.

Revenues last year were 429 million euros ($608.5 million) and net income 52 million euros, it said. Earnings before interest, tax, depreciation and amortisation (EBITDA) was 102 million euros.

Marco De Benedetti, an executive with leading shareholder Carlyle Group, said in a February newspaper interview that a listing could take place by this summer.

He said Moncler could be priced in an IPO at 10 to 12 times 2011 EBITDA. ($1=.7050 Euro) (Editing by Jon Loades-Carter)

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