FILA Raises $95 Million from Indian Unit Share Sale
(Reuters) - Italian stationery maker FILA has completed the sale of around 4.57% of the outstanding shares in its Indian unit DOMS, raising the equivalent of 90.9 million euros ($94.6 million), it said on Thursday.
Through an accelerated bookbuilding process, FILA sold around 2.7 million shares at 2,879.29 Indian rupees ($33.84)each, equal to around 32.8 euros.
The offered price includes a premium for buyers, as the book value of a single share as of the end of 2023 was around 790 Indian rupees, corresponding to 8.64 euros per share, the company said.
Newly obtained liquidity will be used to optimise capital structure, and pursue FILA's strategic goals, it added.
Upon completion of the sale, the stationary maker's stake in the Indian business is reduced to 26.01%.
($1 = 0.9614 euros)
(Reporting by Michela Stasio; Editing by Mark Potter)
