Ferretti Group launches Hong Kong IPO

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Ferretti Group yachts in formation

Ferretti Group has announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK). The Italian boatbuilding giant, also known as Ferretti S.p.A., plans to offer 83.6 million shares – about a quarter of its total equity capital – at HK$21.82 to HK$28.24 each, with a target of just over US$300 million.

China International Capital Corporation Hong Kong Securities Limited is the Sole Sponsor and Sole Global Coordinator of the listing.

Wally WHY200 is one of the Group’s newest models

As of December 31, 2021, Ferretti Group’s order backlog was €1,015.8 million, net revenue was €898.4 million and net profit was €37.4 million. Ferretti Group owns and operates six shipyards as well as a fittings and furnishings plant in Italy, and has established a sales presence in more than 70 countries and regions in EMEA, AMAS and APAC.

As of mid-March, Ferretti Group’s yacht portfolio comprised 45 models across the Riva, Wally, Ferretti Yachts, Pershing, Itama, CRN and Custom Line brands. In February 2016, Ferretti Group moved into the coastal patrol and rescue vessel industry with the launch of Ferretti Security Division (FSD).

A Ferretti Group Private Preview at Yacht Club de Monaco

Ferretti Group is majority owned by China’s Weichai Group, an international equipment manufacturing group with operations in the powertrain, commercial vehicle, construction machinery, intelligent logistics, agricultural machinery, marine transportation equipment and other business segments, with several subsidiaries listed on stock exchanges around the world.

F Investments, the investment platform of the Ferrari family, owns over 11 per cent of Ferretti Group and is controlled by Piero Ferrari, Vice Chairman of Ferrari S.p.A., one of the world’s leading high-performance luxury sports carmakers. Piero Ferrari is also Vice Chairman of the Ferretti Group Board and a member of its Strategic Product Committee.

Ferretti Group’s senior management team is led by Alberto Galassi, Chief Executive Officer and Executive Director.

Alberto Galassi, CEO of Ferretti Group

“Ferretti S.p.A. continues to grow as the world’s most influential luxury yachting group, driven by unique style, innovation, sustainability, and economic achievements. We will keep investing significantly in research and development to launch new models every year, further broadening the product portfolio to meet the needs of a rapidly evolving market and the expectations of our very selective customers,” Galassi said.

“We have a special focus on the ongoing development of new cutting-edge models, mainly in the high-potential made-to-measure category, with the aim of being a leading player in the most profitable segment of the market. In parallel, we will carefully explore new opportunities in the ancillary services such as brokerage, chartering, after-sales refitting and brand extension activities. Ferretti S.p.A. will continue to pursue its strategic mission to design, manufacture and deliver peerless masterpieces of the sea, crafting pure Italian luxury.”