Yacht builder Ferretti prepares for listing on the Milan Stock Exchange

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Italian yacht builder Ferretti, currently listed on the Hong Kong Stock Exchange, has launched a share buyback program with the aim of joining the Milan Stock Exchange at the end of June. A dual listing already tried and tested by other luxury brands.

 

Ferretti, the Italian yacht manufacturer, began taking orders from investors on Wednesday to purchase shares for an additional listing in Milan. The move comes at a time when the luxury goods sector is facing difficult economic conditions.

 

Currently listed on the Hong Kong Stock Exchange, the company plans to sell up to 97 million existing shares, representing around 28.7% of its share capital.

 

The price of the shares and their allocation among investors are expected to be determined by the end of the week, in preparation for Ferretti’s IPO on the Milan Stock Exchange on June 27, in accordance with the transaction timetable.

 

Shortly after the launch of the operation, one of the investment banks responsible for selling the shares reported that investor demand covered the entire transaction.

 

Shortage of new listings

 

Inflation, the continuing impact of the pandemic and the conflict in Ukraine have all had a negative impact on the economy in general, leading to widespread mistrust in several sectors and a shortage of new listings. However, European luxury goods companies have seen real growth.

 

Just over a year ago, Ferretti, which is controlled by the Chinese conglomerate Weichai Group, floated on the Hong Kong stock exchange. Similarly, New York-listed beauty products manufacturer Coty recently announced its intention to study the possibility of a dual listing in Paris, while fashion house Prada, already listed in Hong Kong, is also considering listing its shares in Milan.

 

Other foreign-listed European luxury and consumer goods brands have also considered dual-listing projects.

 

Earlier this year, the French group LVMH became the first company in the region to achieve a market capitalization in excess of 500 billion euros ($545.80 billion).

 

 

Read also >Italian yacht builder Ferretti on the road to a dual listing

Featured photo : © Ferretti[/vc_column_text][/vc_column][/vc_row][vc_row njt-role=”not-logged-in”][vc_column][vc_column_text]

Italian yacht builder Ferretti, currently listed on the Hong Kong Stock Exchange, has launched a share buyback program with the aim of joining the Milan Stock Exchange at the end of June. A dual listing already tried and tested by other luxury brands.

 

Ferretti, the Italian yacht manufacturer, began taking orders from investors on Wednesday to purchase shares for an additional listing in Milan. The move comes at a time when the luxury goods sector is facing difficult economic conditions.

 

Currently listed on the Hong Kong Stock Exchange, the company plans to sell up to 97 million existing shares, representing around 28.7% of its share capital.

 

The price of the shares and their allocation among investors are expected to be determined by the end of the week, in preparation for Ferretti’s IPO on the Milan Stock Exchange on June 27, in accordance with the transaction timetable.

 

Shortly after the launch of the operation, one of the investment banks responsible for selling the shares reported that investor demand covered the entire transaction.

 

Shortage of new listings

 

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Italian yacht builder Ferretti, currently listed on the Hong Kong Stock Exchange, has launched a share buyback program with the aim of joining the Milan Stock Exchange at the end of June. A dual listing already tried and tested by other luxury brands.

 

Ferretti, the Italian yacht manufacturer, began taking orders from investors on Wednesday to purchase shares for an additional listing in Milan. The move comes at a time when the luxury goods sector is facing difficult economic conditions.

 

Currently listed on the Hong Kong Stock Exchange, the company plans to sell up to 97 million existing shares, representing around 28.7% of its share capital.

 

The price of the shares and their allocation among investors are expected to be determined by the end of the week, in preparation for Ferretti’s IPO on the Milan Stock Exchange on June 27, in accordance with the transaction timetable.

 

Shortly after the launch of the operation, one of the investment banks responsible for selling the shares reported that investor demand covered the entire transaction.

 

Shortage of new listings

 

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Thanks to its extensive knowledge of these sectors, the Luxus + editorial team deciphers for its readers the main economic and technological stakes in fashion, watchmaking, jewelry, gastronomy, perfumes and cosmetics, hotels, and prestigious real estate.

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