"Delfin Sarl, the holding company that controls Italian luxury eyewear Luxottica Group SpA (LUX.MI), said Wednesday that up to [33] million ordinary shares in Luxottica have been put up for sale," reports Fox Business. "The
shares put on sale corresponds to about 7% of the total outstanding
ordinary shares in Luxottica and will be sold through an accelerated
bookbuilt offering to institutional investors. The sale bookbuilding
will start immediately, said Delfin, which will remain the majority
shareholder in the company after the sale. person familiar with
the matter said the decision of the holding company owned by Luxottica's
founder Leonardo Del Vecchio--chairman of the board of directors of the
eyewear company--is a direct response to market requests.
Mr. del
Vecchio said the sale 'is intended to enhance the trading liquidity of
Luxottica's listed shares in response to feedback from investors.'" Read more.
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