Moncler prepares for IPO

Italian luxury brand Moncler was given permission to go ahead with its public listing from the

Italian Stock exchange on Friday, after having to put its initial public offering on hold in June due to market conditions.

However Moncler still needs to receive approval from Italy's Securities and Exchange Commission, known as Consob, before the company can begin the process. The company expects approval from the Consob to be verify sometime next week.

According to WWD, once Moncler receives approval from Consob, the company will announce the number of shares they will put on the market and the price bracket. Internal sources speculate that the company aims to sell 30 percent of exiting shares during its IPO.

Italian newspaper, II Sole 24 Ore reported on Saturday that Moncler course debut could happen as soon as the 9th of December. Moncler could be worth 2.88 billion euros, according to documents for investors from Banca IMI, which is one of the many banks that is arranging the company's upcoming IPO reported Reuters.