Last week, we announced that PPR was set for a major overhaul where they plan to sell many of their retail companies (see the MO Down for 25 November.) This week, the first stage – the initial public offering of its African distribution co. CFAO – has been a huge success. We read it was “oversubscribed by nearly 2.5 times.”
In The Wall Street Journal, it states that PPR “raised at least EUR $806 million.” PPR also said it was very satisfied with the price and called the operation a "big success."
In other share news, Nicola Bulgari, Vice Chairman of luxury jewellery firm Bulgari, sold 4 million shares, or 1.33 percent of the share capital, to investors to finance “personal projects.” To know more, click here to go to WWD Fashion.