Home Business Ermenegildo Zegna, brilliant debut on Wall Street

Ermenegildo Zegna, brilliant debut on Wall Street

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Positive debut at NYSE for the Italian Ermenegildo Zegna. After opening at $ 10.33, the stock is now up 10.85% to $ 11.24. The CEO, Gildo Zegna, rang the bell on the New York Stock Exchange today.

Zegna arrived on the American list thanks to a combination with Andrea Bonomi’s Investindustrial Spac. When it was late at night in Italy, the two groups – Zegna and Investindustrial Acquisition Corp (Iiac) – announced that they had completed the business combination.

The Zegna family will retain control with almost 66% of the capital, Investindustrial will remain a major shareholder with approximately 13% while the free float will be around 21%. The merged new company has an initial corporate value of $ 3.1 billion with a market capitalization of $ 2.4 billion.

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