The Ferretti Group’s debut on the Hong Kong Stock Exchange

Italian investors led by Milan-based asset manager Banca Mediolanum participated in the Hong Kong IPO of luxury yacht manufacturer Ferretti.

Defying international sanctions against Russia that have led to the seizure of mega-yachts owned by Russian oligarchs, luxury yacht maker Ferretti has successfully completed its 890 million euro IPO, two years after a previous attempt failed.

Ferretti said on Wednesday it had pocketed a net HK$1.77 billion ($226 million) from the deal. It will use the money to expand its portfolio of brands and strengthen services for its boat owners, it said. The group sold 83.58 million shares, or 25 per cent of its enlarged share capital, in the offer.

“If we take into account what is happening in the world today, our first stock market results are a real success,” said Alberto Galassi, CEO of Ferretti. “Currently we are one of the only Italian companies listed on the Pacific market. We are currently in a period of rapid growth and this dynamic is part of the internationalisation that we are currently undergoing. We believe very much in the future in Hong Kong,” he tells Bloomberg.

Chinese companies Sunshine Insurance, Sanya Development Holdings, Hainan Free Trade Port Fund, Hainan Financial Holdings and Haifa Holding acted as lead investors, taking 53 percent of the offer, Ferretti said.

Ferretti, whose brands include Riva, Pershing and Wally, is owned by Chinese conglomerate Weichai Group. Piero Ferrari, son of the founder of the eponymous luxury sports car company, Enzo Ferrari, owns 11% of the company and sits on the board.

Featured photo : © Ferretti

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Hélène Cougot

Passionnée depuis son plus jeune âge par l’art et la mode, Hélène s’oriente vers une école de stylisme, l’Atelier Chardon-Savard à Paris, avec une option Communication. Afin d’ajouter des cordes à son arc, elle décide de compléter sa formation par un MBA en Management du Luxe et Marketing Expérientiel à l’Institut Supérieur de Gestion à Paris dont elle sort diplômée en 2020. Elle a notamment écrit des articles lifestyle et beauté pour le magazine Do it in Paris et se spécialise en rédaction d’articles concernant le luxe, l’art et la mode au sein du magazine Luxus Plus.********** [EN] Passionate about art and fashion from a young age, Hélène went to a fashion design school, Atelier Chardon-Savard in Paris, with a Communication option. In order to add more strings to her bow, she decided to complete her education with an MBA in Luxury Management and Experiential Marketing at the Institut Supérieur de Gestion in Paris from which she graduated in 2020. She has written lifestyle and beauty articles for Do it in Paris magazine and specializes in writing articles about luxury, art and fashion for Luxus Plus magazine.