Ferretti Group intends to launch an IPO following Sanlorenzo

Shipyards are going public in Italy. Following the example of competitors from Sanlorenzo, the FerrettiGroup's management, during a press conference at the Cannes Yachting Festival made a statement plans to hold an initial public The company's IPO will take place this autumn, probably in October.

«We don't need an IPO for financial reasons. We would like to do it for strategic reasons», noted Ferretti CEO Alberto Galassi.)

Alberto Galassi does not hide that the company he manages is preparing for an IPO. That, if all goes well, will happen in the fall.

«If We will be listed on the Milan Stock Exchange," said Alberto Galassi, CEO of Ferretti. stock exchange», he added.

The share of free float at the end of the IPO may share in the free float after the IPO can be 30-35%.

The Ferretti Group is currently 86.2% owned by the Chinese conglomerate Weichai Group and 13.2% bythe familyof billionaire Piero Ferrari.

Just a couple of weeks ago, Ferretti Group's majority shareholder, theWeichaiGroup,convertedits €212 million debt into share capital, while minority shareholder Piero Ferrari and financial group Adtech Advanced Technologies signed investment agreements providing for an infusion of €212 million into Ferretti S.p.A. for a total of €40 million through a share capital increase.

«This means that we are debt-free. In 2009 Ferretti had debts of approximately €1 billion, but today they are repaid», reported CEO Ferretti.

Holding Ferretti Group today is actually Ferretti Yachts itself, as well as Riva, Pershing, Itama, Mochi Craft, CRN, Custom Line and Wally.

In conclusion, we note that for the 26 boats brought in by the Ferretti Group to Cannes, account for three world premieres: Riva Dolceriva, Ferretti Yachts 720, 48 Wallytender.