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Luxury logistics company Ferrari Group Plc announced plans to launch an initial public offering in Amsterdam, becoming one of Europe’s first companies to seek a listing this year.
The jewellery-shipper said the controlling Deiana family will sell a 25 percent stake in the IPO, according to a Monday statement. A valuation of more than $1 billion may be sought, Bloomberg reported on Sunday. The company isn’t related to automaker Ferrari NV.
The offering is being led by Goldman Sachs Group Inc. and Jefferies Financial Group Inc.
The listing plans come as dealmakers prepare for a rebound in European IPOs this year. HBX Group International Plc has kicked off an offering in Spain, and Diagnostyka SA is looking to list in Warsaw. Prague is set for its first major IPO since 2020 as Doosan Skoda Power seeks to float a minority stake.
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Known for transporting and handling customs services for luxury items, Ferrari Group was established in Italy in 1959. It generated about €333 million ($348 million) of revenue and €90 million of earnings before interest, taxes and depreciation in 2023, according to the statement.
The group expects that its revenues for the year through December will be in a range between €345 million and €350 million, it said in Monday’s statement. The company intends to target an annual dividend pay-out ratio of at least 40 percent on average.
By Pamela Barbaglia and Pablo Mayo Cerqueiro
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