NEWS

Is Ferretti back on the stock exchange?

Share on social media

Italian Ferretti is preparing to return to the Milan Stock Exchange after more than 15 years. This writes Euronews, citing its own sources familiar with the situation.

It is reported that the process is at a fairly early stage, and the group has yet to choose a bank as an adviser.

It is also not known which part of the company's shares will be listed and at what price. Representatives of Ferretti Yachts are not yet ready to give any comments.

It is to be noted that Ferretti Group was derecognized on the stock exchange in 2003 and was bought by private equity firms and then bought by the industrial conglomerate Weichai Group from China in 2012. Under the wings of the Chinese owners it managed to achieve good results. In particular, the brands Riva and Pershing in 2016 not only managed to pay off all their debts, but also to return to profit.

The Weichai Group itself believes that the listing will significantly improve the valuation of the business.

Ferretti had previously considered going public in 2008, but the onset of the global financial crisis has muddled the cards.

According to the latest figures, the group's total production for 2017 reached €623 million. In total, Ferretti Group earned €24 million in 2017 «net», an increase of 71% over the year before.

Share on social media
Found an error in the text?

Please select the word or sentence
and press ctrl+enter,
or click here.

Please report the error to us.