Ferragamo gets IPO go ahead

Italy's luxury goods maker Salvatore Ferragamo is to be listed on the Milan

stock market, but has not confirmed how much of its assets it will sell.

The Tuscan family-run maker of fine leather shoes, valued by analysts at around 1.5 billion euros ($2.19 billion) is joining luxury goods peer Prada in tapping equity markets to fund expansion in fast-emerging markets.

Ferragamo could raise up to 400 million euros by selling 25 percent of its shares, three fund managers told Reuters on Thursday.

The company, which first considered floating in 2008, has not publicly disclosed the exact timing for its IPO nor details of how much it wants to sell.

The European market for new listings has had a difficult year, with more than 15 deals pulled, and many of those that were executed have fallen below their offer price.

Ferragamo could also delay its listing if markets remain nervous, a source told Reuters on Wednesday, but others close to the offering said it had seen good interest from investors during pre-marketing and still intended to go ahead.

The price range could be announced on Friday, according to two sources close to the deal.

"The IPO will be going ahead as planned and the road show will be next week," one of the sources said. Another source said the roadshow for investors should start in London on Monday.