Now is the time. After a failed attempt in 2019, Ferretti Group will land on the Italian Stock Exchange on Thursday 27 June. The go-ahead has arrived for the dual listing (it is already listed in Hong Kong), announcing that the offer price will be €3 per share.

In 2019, the offer price suggested by the banks was only €2 per share, below the range of between €2.5 and €3.70, and therefore not considered up to the true value of the group, according to management at the time.

This time around, the offer of €3 per share is not determined by a price range as in 2019 but is determined on the basis of the value of a single share listed on the Hong Kong Stock Exchange. It means that on the first day of trading at Piazza Affari, Ferretti's share will boast a market capitalisation of €1 billion.

The proceeds of the offer amounted to €265 million and were allocated to Ferretti International Holding. In detail, the IPO attracted interest from leading Italian and international institutional investors, which will result in an expansion and strengthening of the Company's institutional shareholder base. Two anchor investors, Danilo Iervolino and Karel Komarek, subscribed to a total of 35.4 per cent of the total number of shares in the offer, representing approximately 10 per cent of the company’s share capital.

In particular, Iervolino, in addition to already being the controlling shareholder of the publishing house BFC Media and Espresso Media, and president of the Serie A football team Salernitana, becomes the second largest shareholder of the Ferretti group after the Chinese giant Weichai Power, as well as the first Italian shareholder, surpassing the share held by a historical partner of the company: Piero Ferrari.

The first day of trading on Euronext Milan and the settlement of the Offer Shares, expected to occur on 27 June, remains subject to obtaining the necessary authorizations from Borsa Italiana, including admission to trading of the Shares on Euronext Milan.

In the context of the 0ffering, Goldman Sachs International, J.P. Morgan and UniCredit act as joint global coordinators and joint bookrunners. Equita and Berenberg act as joint bookrunners. UniCredit acts also as listing agent for the purpose of the listing.

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Ferretti SpA

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