Ferretti Group debuts on the Milan stock exchange
Alberto Galassi, CEO Ferretti Group
Ferretti Group made its debut on Euronext Milan, the Milan-based stock exchange operated by Borsa Italiana, this morning (27 June 2023).
The debut on Euronext Milan follows the listing a year ago on the Hong Kong Stock Exchange, which means that Ferretti Group is now a dual-listed company and is the first in the world on these two exchanges.
The firm, which Chinese conglomerate Weichai Group controls, priced its offer for a dual listing in Milan at 3 euros per share, valuing the company at around 1 billion euros ($1.1 billion).
New investors since the launch are Czech billionaire Karel Komarek and Italian media entrepreneur Danilo Iervolino, who bought a total 10 per cent of Ferretti’s share capital, according to Reuters.
“Today we’re twice as happy: a year ago we were in Sarnico to celebrate our listing on the Hong Kong Stock Exchange, and now we’re at Euronext Milan, the first and only Group in the world – and not just in the luxury yacht industry – to achieve this double listing in Asia and Europe,” says Alberto Galassi, Ferretti Group CEO.
The group celebrated the news by ‘berthing’ a Riva Anniversario in the middle of Milan’s Piazza Affari, home to the stock exchange. On show alongside the vessel was an exhibition of photographs about Riva — one of the group’s luxury yachting brands.
Galassi adds: “We come to this historic Tuesday in our best shape ever, riding the wave of outstanding results we continue to deliver as the market rewards us for making the most beautiful boats in the world. As always, Ferretti Group points the way and broadens the horizon.”
