Hong Kong shares of Italy's Ferretti climbs ahead of Milan debut

Ferretti SpA

27/06/2023 03:56

** Hong Kong-listed shares of Italian luxury yacht maker
Ferretti SpA  9638.HK  climb as much as 2% to HK$25.25 in their
second session of gains
    ** Stock of the Chinese conglomerate Weichai
Group-controlled company is on course for the biggest one-day
pct rise since June 16, if gains hold
    ** Ferretti, which listed in Hong Kong last year, says it 
will debut on Euronext Milan on June 27 
    ** Ferretti says its offer for a dual listing in Milan at 3
euros per share, giving the company a valuation of around 1
billion euros ($1.1 billion) 
    ** Czech billionaire Karel Komarek and Italian media
entrepreneur Danilo Iervolino have both invested in the company,
buying a total 10% of Ferretti's share capital 
    ** Strong demand helped Italian yacht maker Ferretti price
its European shares at a slight premium to its Hong Kong line as
it completed its €265.4m Milan listing  
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
1.1% and the Hang Seng Index  .HSI  gains 1.2% 
    ** As of last close, Hong Kong shares had surged 22.5% this
year
    
    

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))