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Mayhoola for Investments to float 25 percent of Valentino

By Vivian Hendriksz



London - Mayhoola for Investments, the Qatari owner of Italian fashion house Valentino, is reportedly set to launch an initial public offering (IPO) of the company sometime in the latter half of 2018.

The Qatari investors aim to float at least 25 percent of Valentinos shares offer on Milan's main market, reported Reuters early Thursday morning. The report comes after previous speculation emerged that the luxury fashion house was headed for an IPO in 2018 earlier this year, following the appointment of Sebastian Suhl as managing director of global markets.

CEO of Valentino, Stefano Sassi, made it clear that the Italian brand would not be heading for a public listing in 2017, as there was "too much turbulence to think about a listing." But he added that they would see "what happens in 2018." A future listing remains dependent on market conditions, as the company does not aim to increase Valentino's capital by issuing new shares in the IPO, according to the report.

"Mayhoola intends to carry out this operation as it wants to accredit itself in the world of finance, bringing to the market a company that is expected to gain even more value once it is floated," said a source close to the matter to Reuters.

The fashion house aims to allow enough time for its Creative Director Pierpaolo Piccioli to establish his vision as the solo creative head at Valentino following the departure of his former partner Maria Grazia Chiuri, who left to take over the artistic lead at Dior last year.

Photo: Valentino Resort pop-up, courtesy of Valentino