News from Futu Information on March 30, this Wednesday $FERRETTI (09638.HK)$An announcement was issued. The company issued 83.58 million shares, priced at HK$22.88 per share, and 100 shares per lot. It is expected to go public on March 31.
Ferretti received about 1.07 times more subscriptions during the public offering phase. The final number of shares offered for sale was 8.358 million shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 8829 valid applications were received, with a first-hand winning rate of 92.41%, and a two-hand subscription with a stable first-hand order.
Furthermore, the international offering has been oversubscribed (about 2.06 times), and the final number of shares offered was 752.22 million shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table:
The net proceeds of approximately HK$1,771 million will be used for the following purposes: 68% will be used to expand the product portfolio and further drive superior end-to-end operations; 24% will be used to strengthen the unique portfolio of ancillary services and expand the most promising vertical segments; and 8% will be used to further develop brand promotion activities and other general corporate purposes.
Ferretti is a recognized leader in the global luxury yacht industry, with a set of iconic brands with a long history and exceptional high-end manufacturing capabilities. As one of the oldest Italian luxury yacht manufacturers, since establishing business in 1968, the company has been acquiring and...