April 17, 2012 / 10:41 AM / 7 years ago

Italian Cucinelli's IPO already twice covered - sources

MILAN, April 17 (Reuters) - The 150 million euro initial public offering of Italian cashmere specialist Brunello Cucinelli had already been subscribed two times over on its second day, three sources close to the matter said on Tuesday.

“It’s already covered more than two times,” one source close to the deal told Reuters on Tuesday.

“The trend is going very well,” another source said, confirming it was already more than twice covered.

Cucinelli’s IPO shows strong confidence in the crisis-hit Italian bourse after the success of Ferragamo’s listing last year and the loss of fashion house Prada to an Asian listing in 2011.

The roadshow, which started in Milan on Monday, will move to London on Wednesday. Shares will start trading in Milan on May 3. (Reporting by Michel Rose and Elisa Anzolin)

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