Sanlorenzo fixes terms for €192m IPO
Sanlorenzo, the Italian maker of luxury yachts, is hoping to succeed where its competitor Ferretti failed, having fixed a price range for its €192.5m IPO on the Borsa Italiana, which values the company at up eight times its forward Ebitda, people familiar with the matter said.
In a statement on Tuesday, Sanlorenzo said it would sell shares at €16 to €19, valuing the company at €552m to €656m on a post-money basis.The IPO consists of 4.5m new shares and 6.5m existing shares sold by Holding Happy Life, a vehicle for Massimo Perotti, the Italian ...
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