Ruffini Partecipazioni, the investment holding company of Moncler’s CEO, Remo Ruffini, has placed shares equal to a stake of around 3.2 percent in Moncler at a price of €48.80 per share via an accelerated bookbuilding process. Bank of America and Morgan Stanley have acted as joint bookrunners for the placement. The gross proceeds of the placement, which took place on March 9, amount to €400.16 million. The move follows Moncler’s takeover of Stone Island, which was agreed in December last year and completed in February. It is meant to ensure that Ruffini Partecipazioni’s stake in Moncler does not exceed a 25 percent limit that would trigger, under Italian regulations, a mandatory buyout offer.