GC Asia
Sanlorenzo rides out tough market to go public in Milan
The listing of Italian luxury yacht maker Sanlorenzo is due to be priced at €16, the bottom of the initial range, despite a tough market backdrop for IPOs.
At the final offer price, Sanlorenzo will be valued at €552m when it begins trading next week. That is a multiple of 6.9 times its 2019 forward Ebitda.
Banca IMI, Bank of America, and UniCredit are global co-ordinators on the IPO. Lazard is financial adviser to Perotti.
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