Top executives at Italian luxury leather maker Tod’s are selling up to 10% of the business ahead of a move into the Milan stock exchange, the company announced on 14 December 2010.

Chairman and chief executive, Diego Della Valle, will sell up to 2.46 million shares in the private placement. His brother, vice chairman Andrea Della Valle, will sell as many as 600,000 shares, Tod’s said in a statement. The placement is aimed at institutional investors.

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