- December 18, 2021
- Posted by: Stratford Team
- Category: Business
Zegna Group to Begin Trading on NYSE on December 20, 2021 Under New Ticker Symbol “ZGN”
Leadership Continuity Ensured Through Zegna Family’s Controlling Stake of Nearly 66%1, 2
Investindustrial to Remain a Significant Shareholder with an Approximately 13% Stake3; Free Float to be Approximately 21%
Transaction Delivers Approximately $761 Million in Gross Proceeds
Merged Entity will have Initial Enterprise Value of $3.1 Billion with Market Capitalization of $2.4 Billion4
MILAN, December 17, 2021–(BUSINESS WIRE)–Ermenegildo Zegna N.V. (“Zegna”, “the Group” or “the Company”), the world-renowned Italian luxury group, today announced the completion of its business combination with Investindustrial Acquisition Corp. (NYSE:IIAC) (“IIAC”), a special purpose acquisition corporation sponsored by investment subsidiaries of Investindustrial VII L.P. The newly combined company is expected to commence trading on the New York Stock Exchange under the new ticker symbol…
