Market valuation 1.693-1.860 bln eur (Il Sole 24 Ore Radiocor) - Milan, 11 Jun - Golden Goose Group, an Italian brand of premium sneakers, said that the price range of its initial public offering was set at 9.50-10.50 euros per share, implying a market capitalization of approximately 1.693-1.860 billion euros for the company.

The offering is destined to institutional investors and will consist of newly issued shares arising from a capital increase and existing shares sold by the current sole shareholder, Astrum.

Golden Goose plans to raise about 100 million euros from the capital increase by selling 9,523,810 shares at the maximum price of the price range or 10,526,316 shares at the minimum price.

Astrum will offer 43,619,047 existing shares at the maximum price of the price range or 42,947,368 shares at the minimum price. It will also grant JP Morgan, in its capacity as stabilization manager, an over-allotment option of up to 15% of the total number of firm offer shares.

The offering of the firm offer shares will be equal to 30% of the company's share capital without the over-allotment option.

Funds advised by Invesco Advisers have undertaken to acquire shares in the offering at the final offer price for an amount of 100 million euros, acting as cornerstone investors, Golden Goose said.

The offer period is envisaged to start on June 13, 2024 and is expected to end on or around June 18.

The final offer price is expected to be published June 19 and the first day of trading on the Milan stock exchange is expected to take place on June 21, it added.

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(RADIOCOR) 11-06-24 10:58:25 (0245) 5 NNNN