In view of the ongoing discussions with institutional investors, the Italian yachtbuilder Ferretti Group has extended the offer period for the pending listing of its shares on the Milan Stock Exchange

Ferretti Spa announced today that it will be extending the offer period for the upcoming listing of approximately 30% of the company’s shares on the Milan Stock Exchange until 15 October.

That moves the anticatipated first day of trading to 21 October 2019, but ultimately the date will be set and announced by Borsa Italiana.

The company has not released any additonal guidance on the indicative price initially announced at between €2.50 and €3.70 per share, corresponding to a valuation of between €727 million and €1.08 billion.

The shares are reserved exclusively for qualified investors in Italy and institutional investors abroad and aimed at trading the shares on the MTA organised and managed by Borsa Italiana.