Italian Design Brands’ shares surge on debut trading day.

Italian Design Brands Shares Jump Over 3% on Milan Bourse Debut

Italian Design Brands (IDB), a hub of Italian furniture and lighting companies, made its debut on the Milan bourse on Thursday, and its shares jumped more than 3% from the fixed price set in its initial public offering. The group offered newly issued shares worth €70 million ($77 million) and is planning to use part of the IPO proceedings for new acquisitions.

CEO Andrea Sasso Aims to Bring in Another Company by Year-End

According to IDB’s Chief Executive Andrea Sasso, the order book for the share offer had been more than twice covered. “We hope to bring in another company by year-end,” he told journalists. Citigroup and Equita acted as joint global coordinators and joint bookrunners for the IPO.

Exciting Times Ahead for IDB

With the successful IPO and plans for new acquisitions, IDB is poised for exciting times ahead. The company’s focus on Italian furniture and lighting companies is sure to attract investors who are interested in the luxury market. Keep an eye on IDB as it continues to grow and expand its portfolio.