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Marazzi prepares for stock market launch in mid February

Nov 29, 2005
29/11/05 - The Marazzi Group is due to be launched on the stock market in mid February 2006. Yesterday, the Sassuolo-based multinational submitted the required documentation to Consob and the Italian stock market.
Approval of the offering should be granted in sixty days’ time. As already announced, there will be a public offering for subscription and sale in Italy and a private placement reserved for professional investors, with floating funds of 30%.

The operation will involve an increase in capital and the transfer of 33% of the shares held by Permira and Private Equity Partners, already present among the shareholders.
The share held by the Marazzi family will remain unchanged at 65%.

Flotation will allow the Marazzi Group to continue its expansion process in global markets. Marazzi’s management is focusing in particular on the North American market and on China, where the Group already operates on an outsourcing basis through three local companies.
One of the potential strategies being examined is that of starting up a production activity in Latin America and exporting to North America.

The Group closed the first nine months of the year with 18% growth in turnover to 677.2 million euro, a 51.3% increase in gross operating margin to 125.9 million euro and an increase in net profits to 43.1 million euro from 13.5 million euro in the same period in 2004.

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