Italy's FILA raises $95 million from sale of shares in Indian unit

FILA Fabbrica Italiana Lapis ed Affini SpA

19/12/2024 09:33

Dec 19 (Reuters) - Italian stationery maker FILA
 FILA.MI  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)
 ((Michela.Stasio@thomsonreuters.com;))