Zegna's controlling family shareholder raises stake in group

Ermenegildo Zegna NV

12/11/2024 12:19

ROME, Nov 12 (Reuters) - Ermenegildo Zegna's  JN0.F 
controlling shareholder has raised its stake in the luxury group
and intends to increase it further, the company said on Tuesday.
    The Monterubello holding company, owned by members of the
founding Zegna family, had purchased 913,000 shares - or 0.36%
of the Italian group - on the market as of Nov. 11, a company
statement said. 
    It added the holding company, which already holds 60% of
Zegna, intended to buy a further 2 million shares, or 0.79%.  
    "Our family firmly believes that the purchase of additional
shares in the Ermenegildo Zegna Group represents a very strong
investment,” said Zegna CEO Ermenegildo Zegna, known as Gildo,
who is also chairman of Monterubello. 
    "Given market volatilities and uncertainty, the Zegna family
believes that the Group's current stock valuation does not
reflect its real potential," he added.
   The group's market capitalisation is around 1.7 billion euros
 ($1.8 billion), according to LSEG data.
($1 = 0.9422 euros)

 (Reporting by Giulia Segreti
Editing by Keith Weir)
 ((Giulia.Segreti@tr.com; +39.06.80307714;))