Italian luxury logistics company Ferrari Group aims to list in Amsterdam

Reuters
2025/01/28
UPDATE 1-Italian luxury logistics company Ferrari Group aims to list in Amsterdam

Adds more details from paragraph 4

ROME, Jan 27 (Reuters) - Luxury logistics company Ferrari Group said on Monday it aims to list on the Amsterdam stock exchange via an initial public offering expected in the coming weeks, boosting hopes for a revival of equity capital markets activity in Europe this year.

The family-owned group, founded in 1959 in Italy and currently headquartered in London, focuses on the handling of luxury goods such as high-end watches, jewellery and diamonds.

The founding family, through its Deiana Holding Limited, will sell 25% of the group's shares in the IPO, the company said in a statement. The offering will also include a so-called greenshoe option, which allows the sale of more shares than originally planned.

"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," Marco Deiana, CEO of Ferrari Group and founding family member, said in the statement.

Revenues at Ferrari, which has no connections to the luxury carmaker, totalled 333 million euros in 2023, with an adjusted core profit of 90 million euros.

The group expects its 2024 revenues to be in a range between 345 million and 350 million euros, it said.

Ferrari, whose operations are mainly in Europe, the Americas and Asia, focuses in particular on the market for watches with a value above $5,000 and jewellery with a value above $3,000.

The company has appointed Goldman Sachs and Jefferies as joint global coordinators for the offering.

Earlier on Monday, Bloomberg reported that the company could seek a valuation of more than $1 billion.

(Reporting by Alvise Armellini in Rome and Elisa Anzolin in Milan, editing by Giulia Segreti and Jane Merriman)

((alvise.armellini@thomsonreuters.com;))

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