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Ferretti considers an IPO in Hong Kong

Ferretti considers an IPO in Hong Kong

Ferretti, the Italian luxury yacht builder is considering an IPO on the Hong Kong stock exchange, raising nearly $100 million.

 

Founded in 1968, Ferretti, partly owned by the Ferrari family, operates six shipyards in Italy and sells yachts to customers in more than 70 countries.

 

The company is seeking to complete a financing round before a possible listing next year, according to an unnamed source. Also according to the source, deliberations are reportedly underway and details such as the timing and size of the fundraising could change.

 

In 2019, Ferretti had attempted a listing in Milan, but abandoned it due to a weak market. It was initially targeting a market value of around €1.08 billion, which was later almost halved after lowering the price range before abandoning the plan altogether.

 

Chinese giant Shandong Heavy Industry Group Co. bought a majority stake in Ferretti in 2012. Four years later, the Ferrari family bought about 13 percent of the yacht-building group.

 

See Also

 

Read also > BILLIONAIRES BOOST THE SUPERYACHT MARKET

 

Featured photo : © Ferretti

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