Ferrari Group Plc, a luxury logistics company, is preparing for an initial public offering (IPO) in Amsterdam, aiming to raise approximately €205 million ($212 million). The IPO marks one of the first listings on the exchange this year.
The Deiana family, which controls Ferrari Group, plans to sell around 22.8 million shares, representing 25% of the company. The shares will be priced between €8 and €9 each, giving the company an implied market value of up to €822 million. The offering has already attracted enough demand to cover the entire deal, according to a message from the bookrunner.
Unlike some IPOs, Ferrari Group will not issue any new shares. The Deiana family may raise an additional €30.8 million through an overallotment option. Goldman Sachs Group Inc. and Jefferies Financial Group Inc. are leading the offering, with shares set to begin trading on February 13 under the ticker “FERGR.”
This listing is seen as an early test for European IPO activity in 2025, following a strong year in 2024, where volumes exceeded $20 billion. In addition to Ferrari Group, HBX Group International Plc has launched an offering in Spain, and Diagnostyka SA is preparing for its debut in Warsaw this week.
Founded in Italy in 1959, Ferrari Group specializes in transporting luxury goods and providing customs services. In 2023, the company reported revenues of €333 million ($348 million) and earnings before interest, taxes, and depreciation (EBITDA) of €90 million. Ferrari Group expects 2024 revenues to range between €345 million and €350 million and plans to maintain an annual dividend payout ratio of at least 40%.
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