In a statement released on 17th May, The Italian Sea Group has announced that it has secured the backing of Giorgio Armani and pharmaceutical entrepreneur Marc Coucke in anticipation of its listing on the Milan Stock Exchange.
The Italian Sea Group, consisting of Admiral Yachts, Tecnomar and NCA Refit, has a long history in the Italian superyacht sector, dating back to mid-20th century. According to data supplied by Superyacht Intelligence, The Italian Sea Group has 54 delivered superyachts, at an average LOA of 39.1m, since 2000. The forecast is for growth also, having a further 11 superyachts in build, one launched, and an average in-build LOA of 57.8m.
The Italian Sea Group has said that Milanese fashion group Giorgio Armani SpA and Coucke's family investment company, Alychlo NV, would each separately invest in the IPO. Armani and Coucke would eventually hold a combined stake of 15%, following a capital increase as part of the listing. However, the breakdown of the individual investment profile is not known at this time.
In the statement, The Italian Sea Group reiterated its desire to expand, using the proceeds from the IPO to develop the production capacity for vessels up to 100m and further collaborate with key brands across the luxury sector.
Superyacht industry IPO listings have a fascinating history, and this promises to be a noteworthy addition, with more more detailed analysis forthcoming from SuperyachtNews in the coming weeks.
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