Italy's Ferretti plans to bring on board a European private investor after abandoning a planned stock market flotation, the yachtmaker's chief executive said on Thursday.
"You'll see, in 2020 a new investor will come on board," Ferretti CEO Alberto Galassi told Reuters by telephone, adding the private investor could take a stake of around 30% and talks had been going on with them for some time. It has been a challenging year for European IPOs, with investor sentiment battered by expectations of an economic slowdown as Brexit and the U.S.-China trade war take their toll.
Galassi said that while the IPO book was covered, meaning there were sufficient investors to buy all the shares on offer, they would not pay a price reflecting Ferretti's value.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Whistle is the latest digital channel to go linear with WhistleTV - Business InsiderDigital video channels are turning to 24-hour linear feeds to grab more ad dollars. A top Whistle exec breaks down the strategy ahead of its new channel launch.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Saudi Aramco reportedly delays what would be the biggest IPO in history - Business InsiderThe world's largest oil company was poised to go public as soon as November and likely become the largest IPO on record. Whiff of wework? Overpriced and little due diligence? Nobody needs this dark hole.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Juul pulls fruity flavors hours after Philip Morris says IQOS for adults - Business InsiderJuul halts US sales of its fruity-flavored vaping pods as regulators investigate it for marketing to minors — just hours after Philip Morris said its rival product targets adults
Source: BusinessInsider - 🏆 729. / 51 Read more »
Bank of America sees acceleration in digital sales - Business Insider - Business InsiderBank of America's digital channel now accounts for 26% of total sales, marking 13% annual growth — up from just 4% last quarter.
Source: BusinessInsider - 🏆 729. / 51 Read more »