The Shareholders’ Meeting of Ferretti S.p.A. convened and agreed to proceed with the application to list the Company’s common shares on the online stock market (Mercato Telematico Azionario – MTA) organized and operated by Borsa Italiana S.p.A. and delegated the powers needed to accomplish this task to the Board of Directors.
Once the requisite authorizations have been secured from the supervisory authorities and depending on the conditions of the financial markets, it is expected that this transaction will be carried out by means of a Global Offer consisting of a Public Sales and Subscription Offering addressed to all investors in Italy and an Institutional Placement addressed to professional Italian investors and foreign institutional investors.
In addition, after approving a stock split, the Shareholders’ Meeting agreed to carry out the share capital increase needed to handle the Offering and issue up to 45,000,000 new common shares, par value 0.02 euros each. Among other items on the Agenda, the Shareholders’ Meeting also approved the amendments to the Bylaws that are a prerequisite to obtaining the listing of the Ferretti shares.
“The fact that I am Chairman and founder of this Group is a source of great pride and endless satisfaction,” said Norberto Ferretti, President and Founder of Ferretti Group. “thanks to the hard work of an exciting and strong team, we have transformed the boating market into a true industry and made it the focus of tremendous international interest in the luxury goods segment. This achievement was made possible by years of hard work by the Ferretti Group, which has always strived to create exclusive and innovative products for an ever more demanding and prestigious clientele.”
“The stock market listing will provide the Ferretti Group with even greater visibility, both in Italy and abroad,” emphasized Gabriele del Torchio, Chief Executive Officer of the Ferretti Group. “With the stock market listing we will have the financial resources needed to grow even faster in a market that offers great opportunities, some of which can be seized more readily when a company is publicly traded.”
For the purpouse of the Initial Public Offer, Ferretti Group appointed Mediobanca as Sponsor and Global Coordinator and Lazard as the financial advisor to the Group. Varrenti Avvocati Associati and Linklaters are the legal advisors. Barabino & Partners is the communication advisor.