Italian Design Brands is targeting a market capitalization of 293 million euros and is offering about 27.5 percent of its share capital.
like Modar and Cenacchi International, which makes installation of luxury furnishings for stores, showrooms, offices, hotels and luxury homes globally.
The offering will also include a greenshoe option, equal to about 15 percent of the maximum number of shares. IDB said earlier this year that the proceeds from the capital increase will be used to support the implementation of its strategic objectives, including organic growth, the financing of its M&A activity and to sustain capital expenditures and working capital.Earlier this year, the group reported that its adjusted net profit almost doubled in 2022, reaching 25.5 million euros, compared to 13.3 million euros in 2021. Sales rocketed 84.8 percent on a pro-forma basis to 266.5 million euros.
Brands’ adjusted earnings before interest, taxes, depreciation and amortization rose 111 percent to 49.2 million euros in 2022, with a pro-forma margin of 18.5 percent, up from 16.2 percent in 2021.
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