UPDATE 1-Eurazeo to sell around 11.5 pct of Moncler
PARIS Nov 28 (Reuters) - French private investment fund Eurazeo said on Thursday it would sell around 11.5 percent of luxury goose down jacket maker Moncler as part of the Italian company's initial public offering.
Eurazeo said in a statement the sale would lower its 31.2 percent stake in Moncler to 19.71 percent.
Moncler is seeking to raise as much as 785 million euros ($1.06 billion) in what will be the biggest flotation in the European luxury sector since Salvatore Ferragamo more than two years ago.
On the basis of the company's indicative price range of 8.75-10.2 euros per share, Moncler could be valued at 2.2 billion to more than 2.55 billion euros.
On that basis, Eurazeo could generate around 250-300 million euros from the sale, Reuters calculates.