Moncler, the Italian maker of $1,220 quilted polyester jackets, priced its initial public offering at the top of an indicated range after investors sought more than 31 times the amount of stock offered.

The value of orders from institutional investors exceeded 20 billion euros ($27.6 billion) for shares that will be priced at 10.20 euros apiece, the Milan-based company said yesterday in a statement. The sale values Moncler at 2.55 billion euros after the stock was offered in a range of 8.75 euros to 10.20 euros.

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Source: http://www.bloomberg.com