Investors praise Ferretti navigation as deal covered
The IPO of Ferretti, the Italian manufacturer of yachts and super yachts, is finally covered after a long and difficult book building process and investors have praised the willingness of the seller to be flexible on valuation to help the deal across the line.
Barclays, BNP Paribas, UBS and Mediobanca are global co-ordinators on the IPO. The company is €100m raising through a sale of new shares; Weichai Group, the Chinese industrial company, and Italian billionaire Piero Ferrari, son of Enzo, who founded the eponymous car company, are also selling shares.
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