Published by Wanda Rich
Posted on March 17, 2022
2 min readLast updated: February 8, 2026
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By Scott Murdoch and Valentina Za
SYDNEY/MILAN (Reuters) – Italian luxury yacht maker Ferretti is expected to kick off on Monday the process to list its shares in Hong Kong, aiming for a valuation of around $1 billion as it sells a 25% stake, two sources close to the matter said.
Ferretti, controlled by Chinese conglomerate Weichai Group, is pushing ahead with its initial public offering (IPO) despite the conflict in Ukraine rattling financial markets and hitting shares in the superyacht sector.
The pre-marketing phase ends on Friday and the company, which ditched a previous IPO attempt in Milan in 2019, could still change its plans depending on the market.
Ferretti has sought to play down the impact of international sanctions against Russian oligarchs on its business. It has said that countries involved in the conflict account for less than 3% of its revenues and it has no exposure to the largest mega-yachts more likely to be targeted by sanctions.
Shares in listed Italian rivals such as Sanlorenzo and The Italian Sea Group plunged in the wake of Russia’s invasion of Ukraine, shedding between a quarter and a third of their value, but have cut losses in the past 10 days.
Ferretti met investors and analysts over the past two weeks, and is slated to launch the institutional offering on Monday, broadening it to retail investors the following day, one of the sources said.
It aims to raise around $300 million by selling newly-issued shares for an overall valuation of $1.2 billion, the source said. A second source pointed to a $900 million valuation.
Both sources said shares are expected to start trading at the end of March. IPOs in Hong Kong normally take around four days with another five days before the trading debut.
Ferretti is expected to use the proceeds to expand its yacht range while also developing services such as yacht brokerage and chartering.
Ferretti filed with the Hong Kong Stock Exchange at the end of December, with investment bank CICC as sole sponsor.
Hong Kong’s Hang Seng index gained more than 5% on Thursday, adding to Wednesday’s 9% surge driven by the prospect of fresh Chinese economic stimulus.
( This story removes duplicate word in second paragraph)
(Editing by Keith Weir and Elaine Hardcastle)
An IPO, or Initial Public Offering, is the process through which a private company offers its shares to the public for the first time, allowing it to raise capital from public investors.
Equity refers to the ownership interest in a company, represented by shares of stock. It signifies the value of ownership after all liabilities have been deducted.
Financial markets are platforms where buyers and sellers engage in the trade of assets such as stocks, bonds, currencies, and derivatives, facilitating capital flow and investment.
Valuation is the process of determining the current worth of an asset or a company, often used in the context of investments, mergers, and acquisitions.
Luxury goods are high-end products that are not essential but are desired for their quality, exclusivity, and status symbol, often associated with affluent consumers.
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