The Ferretti IPO on the Hong Kong Stock Exchange is imminent. Sources inside the Italian yacht group confirm that tomorrow, March 22, the company will launch an initial public offering. The funding target is set at 270 million euros.
Already at the end of December Ferretti had made it known that he had filed the application for admission to the Hong Kong list. No further details were provided at the time, however.
The purpose of the Ferretti IPO in Hong Kong
Now, however, we learn that the group - with the resources obtained from the quotation - aims to accelerate the implementation of the industrial plan, developing, among other things, new ancillary services linked to the high-end boat market.
The numbers of the Ferretti IPO in Hong Kong
The proceeds will depend on the final value of the fork which, according to the same sources, will range from a minimum of 21,8 Hong Kong dollars to a maximum of 28,2. As for the post-IPO free float, the rules of the Hong Kong Stock Exchange provide for a minimum of 20%.
Ferretti with Chinese traction
In Ferretti's capital, the majority shareholder is the Chinese company Weichai Holding, which controls 86,06% of the capital. Minority shareholders also include Piero Ferrari with the holding F Investments, which has 11,14%.
The unfortunate precedent
For the group that produces luxury yachts, this is the second attempt at listing after the withdrawal of the IPO in 2019 on Piazza Affari due to a price that the company, at the time, considered theinadequate.
