La Perla makes positive stock market debut in Paris
today Sep 9, 2019
Italian high-end lingerie label La Perla, owned by Tennor Holding (formerly Sapinda Holding), the investment company of German financier Lars Windhorst, has debuted on the Paris Stock Exchange’s Euronext Growth index which, with its less stringent conditions, makes a stock market listing easier for SMEs. At the end of the first trading day on September 6, La Perla’s share price was up by 22%, at €5.50.
Nearly 19,000 shares were traded on the first day, equivalent to approximately 1.8% of La Perla's capital, for a market capitalisation of €578 million. The starting price was €4.50 per share, equivalent to a capitalisation of €473 million.
The company valuation was the result of a direct listing process which didn’t involve the floating of new shares, but set a value at which shares owned by current shareholders could be traded.
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