Ferretti Group, IPO concluded: Iervolino and Komarek 10% of the capital

Ferretti Group on the Stock Exchange. The Spa announces the positive conclusion of the offer connected with the admission to listing and trading of the company’s ordinary shares on Euronext Milan.

The offer price was set at 3 euro per share. The gross proceeds amount to approximately 265 million euros and are intended for the selling shareholder – the Chinese of Weichai -. “There has been broad interest from leading Italian and international institutional investors (with approximately 70 lines allocated), which will translate into an expansion and strengthening of the company’s institutional shareholding structure,” the group said. Two anchor investors, Danilo Iervolino (owner of a 47-metre superyacht Columbus Atlantique) and Karel Komarek (Czech financier, head of the KKCG group, owner first of a Pershing, then a Riva, and now a 50-metre Crn) have subscribed for a total of 35.4% of the total shares on offer, equal to approximately 10% of the share capital.

So far, they are both the second shareholders, after Weichai, who held 63.75 and could in fact sell up to 28.75%, and ahead of Piero Ferrari, with 8.3%.

Based on the offer price, the market capitalization of Ferretti Group on the first day of trading will be approximately 1 billion euros.

The offer consists of n. 88,454,818, offered for sale by Ferretti International Holding Spa. In the event of failure to exercise the over-allotment option, approximately 26.1% of the share capital will be on the market. The selling shareholder has granted UniCredit, as stabilization manager, an option to purchase a maximum of further n. 8,845,482 additional shares, equal to approximately 10% of the maximum number of shares offered. Assuming full exercise of the over-allotment option, there will be n. 97,300,300 shares, equal to approximately 28.7% of the share capital. Furthermore, the company and the selling shareholder have signed 90-day lock-up agreements with the managers.

The first day of trading of the shares on Euronext Milan and settlement, scheduled for 27 June 2023, are subject to obtaining the necessary authorizations from Borsa Italiana, including the admission of the shares to trading on Piazza Affari.