Financial news source Milano Finanza has reported that Italian yard Sanlorenzo has been on track for its trading debut on Italian Stock Exchange on December 10.,
During the Cannes Yachting Festival 2019, CEO and majority shareholder of Sanlorenzo, Massimo Perotti, made an official announcement about the company’s IPO plans by the end of the year. Now, the release date for the Milan Stock Exchange has been announced. Meanwhile, Perotti has been recently named the Entrepreneur of the Year in Italy.
According to Milano Finanza, Massimo Perotti has completed the company’s international roadshow with the share offering covered by several Italian and international investors. Among institutional investors are Kairos, Mediolanum, Fideuram and Azimut, along with JP Morgan, Amundi and Norges placing ‘heavy-hitting’ bets on Sanlorenzo.
The final share price has not been revealed so far. Sanlorenzo will have 31.9% of its share capital on offer, with an indicative price of €16 to €19 per share, to a targeted valuation of €480 to €570 million.
Noteworthy, Ferretti Group, one of the main competitors of Sanlorenzo, abandoned the idea of trading on the stock exchange due to unsatisfactory results of the public offering period earlier this year.