- Business - Update: Ferretti Group IPO completed

By Dario Schiavo

Update: Ferretti Group IPO completed

With the price set at EUR3 per share, the market capitalisation on the first day of trading will be approximately EUR1 billion…


Now is the time. After a failed attempt in 2019, Ferretti Group will land on the Italian Stock Exchange on Thursday 27 June. The go-ahead has arrived for the dual listing (it is already listed in Hong Kong), announcing that the offer price will be €3 per share.

In 2019, the offer price suggested by the banks was only €2 per share, below the range of between €2.5 and €3.70, and therefore not considered up to the true value of the group, according to management at the time.

This time around, the offer of €3 per share is not determined by a price range as in 2019 but is determined on the basis of the value of a single share listed on the Hong Kong Stock Exchange. It means that on the first day of trading at Piazza Affari, Ferretti's share will boast a market capitalisation of €1 billion.

The proceeds of the offer amounted to €265 million and were allocated to Ferretti International Holding. In detail, the IPO attracted interest from leading Italian and international institutional investors, which will result in an expansion and strengthening of the Company's institutional shareholder base. Two anchor investors, Danilo Iervolino and Karel Komarek, subscribed to a total of 35.4 per cent of the total number of shares in the offer, representing approximately 10 per cent of the company’s share capital.

In particular, Iervolino, in addition to already being the controlling shareholder of the publishing house BFC Media and Espresso Media, and president of the Serie A football team Salernitana, becomes the second largest shareholder of the Ferretti group after the Chinese giant Weichai Power, as well as the first Italian shareholder, surpassing the share held by a historical partner of the company: Piero Ferrari.

The first day of trading on Euronext Milan and the settlement of the Offer Shares, expected to occur on 27 June, remains subject to obtaining the necessary authorizations from Borsa Italiana, including admission to trading of the Shares on Euronext Milan.

In the context of the 0ffering, Goldman Sachs International, J.P. Morgan and UniCredit act as joint global coordinators and joint bookrunners. Equita and Berenberg act as joint bookrunners. UniCredit acts also as listing agent for the purpose of the listing.

Profile links

Ferretti SpA

Join the discussion

Ferretti Group approved for Italian Stock Exchange


To post comments please Sign in or Register

When commenting please follow our house rules

Click here to become part of The Superyacht Group community, and join us in our mission to make this industry accessible to all, and prosperous for the long-term. We are offering access to the superyacht industry’s most comprehensive and longstanding archive of business-critical information, as well as a comprehensive, real-time superyacht fleet database, for just £10 per month, because we are One Industry with One Mission. Sign up here.

Related news

Image for Ferretti Group introduces industry training course for young people

Ferretti Group introduces industry training course for young people

The Scuola dei Mestieri (School of Trades) training course aims to prepare young people to become skilled workers in the yachting industry


Image for Pershing launches third 140 unit

Pershing launches third 140 unit

The brand’s first flagship built entirely from aluminium launched on 29 April


Image for Ferretti SpA reveal 2022 financial performance

Ferretti SpA reveal 2022 financial performance

In 2022, Ferretti Spa received orders worth €1,162m, a 19.6% increase compared to the previous year


Image for Riva launch 40m ‘Bellissima’

Riva launch 40m ‘Bellissima’

The superyacht was built in the new Riva shipyard in La Spezia


Image for Custom Line launches Navetta 37m Regina

Custom Line launches Navetta 37m Regina

Ferretti Group reports a busy end to 2022 for its Custom Line brand with the Ancona-based shipyard recording six launches in the last two months


Sign up to the SuperyachtNews Bulletin

Receive unrivalled market intelligence, weekly headlines and the most relevant and insightful journalism directly to your inbox.

The SuperyachtNews App

Follow us on