Ferretti: IPO concluded, price fixed at 3 euros per share
(Teleborsa) – Ferretticurrently listed on the Hong Kong Stock Exchange, announces the successful conclusion of the Offering (IPO) related to the admission to listing and trading of the ordinary shares on Euronext Milana regulated market organized and managed by Borsa Italiana.
Il Bid Price it was set at 3 euro per share.
The gross proceeds of the Offer amount to approximately 265 million and are intended for the Selling Shareholder.
The offer – reads a note – has aroused a wide interest by leading Italian and international institutional investors (with approximately 70 lines allocated), which will translate into an expansion and strengthening of the Company’s institutional shareholding structure. Two Anchor Investors, Danilo Iervolino and Karel Komarekhave subscribed a total of 35.4% of the total shares on offer, equal to approximately 10% of the Company’s share capital.
Capitalization of about 1 billion
Based on the Offer Price, the capitalization market share of the Company on the first day of trading of the Shares on Euronext Milan will be approximately 1 billion.
The offer consists of n. 88,454,818 Shares, offered for sale by Ferretti International Holding. In the event of failure to exercise the Over-Allotment Option, the Shares on Offer will constitute approximately 26.1% of the Company’s share capital.
The Selling Shareholder has granted UniCredit, as stabilization manager, on behalf of the Joint Global Coordinators and Joint Bookrunners, an option to purchase a maximum of further no. 8,845,482 additional Shares to the Offer Price, equal to approximately 10% of the maximum number of Shares on Offer. In the event of full exercise of the Over-Allotment Option, the Shares on Offer are equal to no. 97,300,300 Shares, equal to approximately 28.7% of the Company’s share capital.
In addition, the Company and the Selling Shareholder have entered into 90 day lock-up arrangements with the Managers, in line with market practice and subject to typical limitations and waivers by the Managers.
Il first trading day of the Shares on Euronext Milan and the regulation, scheduled for June 27, 2023are subject to obtaining the necessary authorizations from Borsa Italiana, including admission to trading of the Shares on Euronext Milan.