Ferrari Group IPO Flotation Announcement
27th January 2025
Ferrari Group Public Limited Company, to be renamed Ferrari Group PLC, together with its subsidiaries, providing worldwide shipment of luxury goods, today announces its intention to launch an initial public offering (IPO) and admission to listing and trading of its ordinary shares on Euronext Amsterdam. The Offering is expected to consist entirely of existing Shares in the Company offered by the Selling Shareholder. The Offering is expected to take place in the coming weeks, subject to market conditions and other relevant considerations.
Ferrari Group provides integrated services with a focus on handling hard luxury goods, such as high-end watches, jewellery and diamonds, with an aggregate value of over €170 billion per annum. In 2023, the Group operated in 85 locations and realised €333.0 million in revenues and €90.0 million in Adjusted EBITDA with an Adjusted EBITDA Margin of 27.0%.
Marco Deiana, CEO of Ferrari Group and member of the founding family, commented: “Today’s announcement marks a momentous new chapter in Ferrari Group’s strategic journey. Since 1959, we have grown from a customs broker and forwarding company in northwest Italy, to a trusted global leader offering end-to-end critical services to international luxury brands across the entire delivery value chain. Our commitment to delivering tailored solutions for complex transportation needs has driven consistent and profitable growth, providing us with a strong platform from which to deliver further progress through increased services, regional expansion, adjacent service offerings and margin development. Our proposed listing on Euronext will increase the Group’s public profile and brand awareness while enabling the business to access diversified sources of funding, supporting our ambitious growth plans. We are excited to share our journey with our potential new investors as we build on our legacy of excellence and shape the future of luxury goods logistics.”
OFFERING HIGHLIGHTS
Should the IPO proceed, the key features are expected to be as follows:
• The Offering will consist of a private placement of existing Shares held by members of the founding family through Deiana Holding Limited to a range of institutional investors in various jurisdictions;
• The total number of Shares offered in the Offering, as well as all other relevant terms, will be determined prior to the launch of the Offering. The Offering will also include a greenshoe option granted by the Selling Shareholder to the Joint Global Coordinators;
• The Selling Shareholder intends to sell approximately 25% of the Shares in the IPO;
• An application will be made for the admission to listing and trading of the Shares on Euronext Amsterdam;
• The Company, the Selling Shareholder, and certain senior managers of the Group expect to enter into customary lock-up arrangements with the Underwriters; and
• The Company has appointed Goldman Sachs Bank Europe SE and Jefferies GmbH as joint global coordinators (the Joint Global Coordinators) ABN AMRO Bank N.V. (in cooperation with ODDO BHF SCA) has been appointed as joint bookrunner.
similar news