Linklaters advised the Joint Global Coordinators and Joint Bookrunners in the context of the offering of shares and dual listing of Ferretti on Euronext Milan, the Italian main stock exchange market.
Ferretti group, one of the world’s leading player in the global luxury yacht market in designing, producing and selling luxury composite, made-to-measure and super yachts, already listed on the Hong Kong Stock Exchange, completed a dual listing on Euronext Milan, the Italian main stock exchange market organised and managed by Borsa Italiana S.p.A.. To support the stock liquidity on Euronext Milan, has been conducted an offering of ordinary shares of Ferretti by the selling shareholder Ferretti International Holding S.p.A.. Assuming the full exercise of the greenshoe option, offer size will be equal to approximately Euro 292 million. Company’s market capitalization is equal to approximately €1 billion as of the first day of trading of the shares on Euronext Milan.
In the context of the offering, Goldman Sachs International, J.P. Morgan and UniCredit acted as joint global coordinators and joint bookrunners. Equita and Berenberg acted as joint bookrunners. UniCredit also acted as listing agent.
This is the first dual listing on the Italian main stock exchange market, Euronext Milan, of a company already listed on the Hong Kong Stock Exchange.
Linklaters worked on complex legal and regulatory issues to enable the dual listing, including issues related to the dematerialisation of the shares, a regime not yet envisaged in Hong Kong, with a team lead by partner Ugo Orsini with counsel Cheri De Luca and managing associate Marta Fusco and involving several professionals including associates Daniele Casà and Maria Stella Cassano and trainee Alessia Intonti (Milan) as well as partner Lucio D’Amario, managing associate Giorgio Valoti and associate Mattia Gilioli (Antitrust Milan); partners Alex Bidlake, Carl Fernandes and Donnelly Chan, counsel Wei Liang, managing associate Natalie Lam, associate Austin Ho (Hong Kong); partner Luis Roth, associate Jose Aleman (Paris); counsel Asad Ahmed, associates Maryam Satter and Louise-Marie Kotze (London); partner Michelle Lo and associate Young Jin Kim (New York).
