Golden Goose is aiming for a market capitalization of up to 1.86 billion euros ($2 billion) in its initial public offering on the Milan bourse, the Italian luxury sneaker maker said on Tuesday.

The company set the price range for the share listing between 9.50 euros and 10.50 euros each and the free float will be equal to 30% of the company share capital, before the exercise of the greenshoe option, it said in a statement.

Golden Goose, whose shoes sell for around 500 euros a pair, was valued at 1.3 billion euros when it was acquired by private equity firm Permira in 2020.

The first day of trading is expected on June 21.