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But unlike Ferretti, the Milan-based luxury fashion house is tightly-controlled by its founders, the Prada family, and its billionaire chief executive, Patrizio Bertelli. The company's IPO comes as some wealthy Russian owners of superyachts are being targeted by sanctions following the Russian invasion of Ukraine. Ferretti said it had no pending orders to Russian oligarchs, and that the contribution from Russia and Ukraine to its sales is limited to just 3 per cent of total revenue over the past three years.

The share sale also comes as the fierce Omicron variant of the coronavirus ensures international travellers cannot reach Hong Kong even as other countries outside the region have begun to reopen their borders. But the pandemic has provided new opportunities for the business, said chief executive Alberto Galassi, during a briefing live-streamed to Hong Kong on Monday. If you have a boat, if one country stays open in Europe, you have the freedom [to travel there in a yacht].

That's a super power to the rich," he said. Ferretti plans to use the net proceeds from the IPO to develop new models and expand ancillary services such as yacht brokerage, aftersales and refitting services. The share sale has come amid a fundraising dry spell in Hong Kong. All rights reserved. The Dow Jones rallied amid encouraging inflation data. Apple stock surged. Stop investing in mediocre businesses. Buy the best, instead.

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Julian Bridgen, co-founder and president of Macro Intelligence 2 Partners, joins Yahoo Finance Live to discuss this week's market action and whether or not it will carry over into next week, the Fed, and inflation. Shipyards are going public in Italy. Following the example of competitors from Sanlorenzo, the Ferretti Group's management, during a press conference at the Cannes Yachting Festival made a statement plans to hold an initial public The company's IPO will take place this autumn, probably in October.

The Ferretti Group is currently In conclusion, we note that for the 26 boats brought in by the Ferretti Group to Cannes , account for three world premieres: Riva Dolceriva, Ferretti Yachts , 48 Wallytender. Please report the error to us. Amount is used for capital expenditure and development of new projects. Addressing the litigation surrounding the payment of the deposit for the yacht. Chris Anderson will support Candela's Swedish shipyard.

The shipyard on the verge of bankruptcy saved the Blue Skye Investment Group In the image of the Ferretti , the Italian shipyard will refresh the appearance of the entire range. The fast boat brand, so beloved by Russians, has found a new face and its architect is the most famous Russian yacht designer. Talk about sailboats that should be on your Cannes Yachting Festival mandatory list. Found an error in the text? Message sent. Text by: Vladislav Zolov.

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SYDNEY, March 25 (Reuters) - Italian luxury yacht maker Ferretti Group has priced its shares at HK$ each, the lower end of its proposed. Shares in Italian yacht maker Ferretti SpA ended flat in their Hong Kong debut on Thursday after raising $ million at a time when the. The initial public offering, which values the company at 10 times earnings before interest, tax, depreciation and amortisation, or €mn, is.