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Sanlorenzo will go public on December 10

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At the Cannes Yachting Festival - 2019 Sanlorenzo chairman and CEO MassimoPerotti made the official announcement of an IPO before the end of the year, and now a date has been named for the listing on the Milan Stock Exchange.

The total amount of securities which may be offered, promises to amount to about 11 million shares (one third of the capital) with a total value of $723 million.

The proceeds shall be used to pay off almost all the debt held by Sanlorenzo at the end of September, and that is close to $96 million.

Earlier FerrettiGroup, being one of the main competitors of Sanlorenzo,abandoned the idea of trading on the stock exchange due to unsatisfactory results of the public offering period.

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