Ferretti Group (‘the Company’), currently listed on the Hong Kong Stock Exchange, announced the successful conclusion of the Offering in connection with the admission to listing and trading of ordinary shares on Euronext Milan, a regulated market organised and managed by Borsa Italiana.

The offering price has been set at €3.00 per Share. The gross proceeds from the Offering amount to approximately €265 million, which will be payable to the Selling Shareholder.

The Offering has attracted broad interest among leading Italian and international institutional investors, with approximately 70 lines allocated, which will result in a widened and strengthened institutional shareholder base.

Two Anchor Investors, Danilo Iervolino and Karel Komarek, have been allocated 35.4 per cent of the Offer Shares, equal to approximately 10 per cent of the Company’s share capital.

Based on the Offer Price, the Company’s market capitalisation as of the first day of trading of the Shares on Euronext Milan will be equal to approximately €1 billion.

The offering consists of 88,454,818 Shares, offered for sale by Ferretti International Holding. Assuming no exercise of the Over-Allotment Option, the Offer Shares constitute approximately 26.1 per cent of the share capital of the Company.

The Selling Shareholder granted UniCredit, as stabilisation manager, on behalf of the Joint Global Coordinators and Joint Bookrunners, an option to purchase up to 8,845,482 additional Shares at the Offer Price, equal to approximately 10 per cent of the maximum number of Offer Shares.

Subject to full exercise of the Over-Allotment Option, the Offer Shares amount to 97,300,300 Shares, equal to approximately 28.7 per cent of the share capital of the Company. In addition, both the Company and the Selling Shareholder entered 90-day lock-up arrangements with the Managers, in line with market practice and subject to customary exceptions and waiver by the Managers.

In the context of the Offering, Goldman Sachs International, JP 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. CICC is acting as financial advisor to the Company.

Gianni & Origoni, Shearman & Sterling and King & Wood Mallesons are acting as legal advisors to the Company and the Selling Shareholder and Linklaters as the legal advisor to the Joint Global Coordinators and Joint Bookrunners.

For the years ended December 31, 2022, 2021 and 2020 and the three months ended March 31, 2023, Ferretti Group recorded net revenue of €1,030.1 million, €898.4 million, €611.4 million and €280.3 million respectively, and a net profit of €60.5 million, €37.4 million, €22.0 million and €18.6 million respectively.

http://www.ferrettigroup.com