It's official: the offer reserved to institutional investors of the ordinary shares of the company Sanlorenzo, a leading global company for yachts longer than 30 meters and aimed at listing the shares on the Star segment, managed by Borsa Italiana, has been successfully concluded.
The offer includes 4.500.000 newly issued shares and 6.500.000 shares put up for sale by Holding Happy Life Srl, majority shareholder of Sanlorenzo and controlled by Massimo Perotti, executive chairman of the company. Possibility of exercising the greenshoe option on 1.100.000 shares, which could bring the free float of Sanlorenzo shares to 35,1% of the company's share capital, while Holding Happy Life Srl will hold 20.702.000 shares corresponding to approximately 60% of the total share capital. The offer price has been set at 16 euros per share.
Based on the offer price, the total value of the transaction, including the option greenshoe, is equal to 193,6 million , capitalization of Sanlorenzo is equal to 552 million, inclusive of the capital increase of 72 million.
The offer has aroused interest in the national and international financial community: the request has reached almost 290 million, going well beyond the offer and has involved qualified operators, mainly long only, states the shipbuilding company's press release. About two thirds of the demand comes from foreign investors and about one third from Italian investors. As part of the offer, Banca IMI, BofA Securities and UniCredit Corporate & Investment Banking acted as Joint Global Coordinator and Joint Bookrunner.
The start date for trading of Sanlorenzo ordinary shares is scheduled for Tuesday 10 December 2019, but subject to verification by Borsa Italiana of the existence of the requirements for disclosure to the public.
