MILAN, Italy, June 26, 2023 (GLOBE NEWSWIRE) -- Ferretti's luxury yachts are just one step away from Piazza Affari. The Group, currently listed on the Hong Kong Stock Exchange, announced the successful completion of its IPO for listing on the Milan Stock Exchange. The offer price was set at €3 per share, while gross proceeds amounted to approximately €265 million. At the time of the listing, which will take place on June 27, the company's market capitalisation will be approximately €1 billion.

The IPO 'has attracted wide interest from leading Italian and international institutional investors (with approximately 70 lines allocated), which will result in an expansion and strengthening of the company's institutional shareholding structure', the company announced. There are two anchor investors, Danilo Iervolino and Karel Komarek, who have subscribed a total of 35.4% of the total number of shares on offer, equal to around 10% of the company's share capital. In particular, Iervolino – former patron of Salernitana and editor of BFC Media and L’Espresso – will become the second largest shareholder after the Chinese fund Weichai Power, rising to over 5% of the company's capital, and the first Italian shareholder: 'I like the idea that the listing in Italy will coincide with an Italian anchor investor. It is not just parochialism or a sterile narrative, but a way of saying that we believe in Made in Italy”. The Campania entrepreneur, who was joined in the transaction by UniCredit, told to LaPresse. 'I am proud and happy to participate as an anchor investor in the Ferretti project. The group boasts the most prestigious brands in the nautical sector - Riva, Pershing and Itama -, flagships of Made in Italy. The idea is that there is a great opportunity to grow the company, the brands, to expand services, to enter important markets yet to be explored, such as the Asian one, and all this with an extraordinary management”, he added.

The IPO in detail

The transaction consists of 88,454,818 shares – approximately 26.1% of the share capital – offered for sale by Ferretti International Holding SpA. However, the holding company has granted UniCredit, as stabilisation manager, an option to purchase a maximum of an additional 8,845,482 shares at the offer price, corresponding to approximately 10% of the maximum number of shares on offer. Thus, assuming that the over-allotment option is exercised in full, the number of shares on offer would rise to 97,300,300, corresponding to approximately 28.7% of the share capital.

For more information:
Press Office LaPresse - ufficio.stampa@lapresse.it

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b3e801d7-5407-4574-b07d-952d7c89b1aa

The photo is also available at Newscom, www.newscom.com, and via AP PhotoExpress.