Plans to delist the Tod’s Group have come to a halt.
to delist the group from the Italian Stock Exchange after 22 years. The owners launched a tender offer to acquire 25.55 percent of the company’s shares at 40 euros per share, with the goal to reach a 90 percent stake for a total of more than 338 million euros.
The move was geared at investing in each brand it controls — Tod’s, Roger Vivier, Hogan and Fay — in the medium- and long-term without having to report quarterly results.
As reported, the Italian luxury company posted a 16.4 percent increase in revenues to 724.9 million euros in the first nine months of the year, putting it on track to meet the top-line consensus of a turnover of 974 million to 975 million euros in 2022. In the 12 months ended Dec. 31, group revenues amounted to 883.8 million euros, up 38.7 percent versus 2020.
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