It had been the first nautical group to go public, in 2000. Now Ferretti Group, currently listed on the Hong Kong Stock Exchange, confirms its intention of “dual listing”, that is to land on Piazza Affari, as approved by the shareholders’ meetings.
On the market
To support the liquidity of the stock on Euronext Milan, an offer by Ferretti International Holding SpA of the existing ordinary shares, including the greenshoe, is envisaged. For the purposes of the listing, the selling shareholder, who currently holds approximately 63.75% of the company’s share capital, has obtained the necessary authorizations to sell up to 28.75% of the share capital.
The offer will only be available to qualified investors in member states of the European Economic Area and the United Kingdom and to foreign institutional investors outside the United States.
“Although Asia remains strategic – explains the group in a note – the listing would allow us to expand the composition of our shareholding in some regions, such as Europe, the Middle East and the Americas, which represent the main markets of the group. In particular, it is expected that the listing will attract a greater number of potential investors in the trading of the company’s shares, thus broadening the composition of the shareholder structure and increasing the trading volume of the shares, with the aim of improving the liquidity and profile of the company’s shares in the global market”.
And again: “Compatibly with market conditions, the company intends to proceed with the offer as soon as the relative authorizations have been obtained. To this end, the company has filed a prospectus with Consob, which must be approved”.
As part of the offer, Goldman Sachs International, JP Morgan and UniCredit will act as joint global coordinators and joint bookrunners. Equita and Berenberg will act as joint bookrunners. UniCredit also acts as listing agent in the listing context.
History
Ferretti Group was listed for the first time in 2000, together with other luxury brands such as Bulgari and Hermès. At the time in the world, only Beneteau and Sea Ray were on the stock exchange for the nautical sector.
The delisting in 2002/2003. But in 2006 the sirens of the Stock Exchange had started singing again. The intention was then returned with the entry of Candover into the share capital. In 2008, a new attempt, perhaps to capitalize on the sales boom, but the global crisis extinguishes dreams. In 2019 he tried again on Milan in 2019, but then decided to change course in the face of an offer price that the main shareholder, the Chinese Weichai group, did not like. In 2022 there is the IPO in Hong Kong Associations