Furla initiates IPO process
Furla shareholders have signed an agreement with Tamburi Investment Partners for the issuance of a convertible bond and converting, which forms part in the initiation of the listing process.
The bond issue, it said in a statement from the merchant bank, amounts to 15 million Euros and will be converted into shares at the time of the IPO.
TIP is committed to underwrite the loan, to convert it to capital and to buy shares for more 15 million at the time of listing, the same economic conditions that will be proposed to the market.
Furla produces and sells handbags and high quality leather accessories. The company closed 2015 with a consolidated turnover of about 339 million euro, approximately 80% in export sales, an increase of over 30% over the previous year, and an EBITDA of over 44 million , up 29% compared to 2014. The Furla group has 415 stores in over one hundred countries and more than 1,550 employees.