Ferrari Group picks Amsterdam for $1bn float in fresh snub to London Stock Exchange
Ferrari Group, which specialises in shipping luxury goods across the globe, has announced plans for a $1bn float in Amsterdam in another blow to the London Stock Exchange.
The London-headquartered company has confirmed its intention to launch an initial public offering (IPO) on Euronext Amsterdam.
Ferrari Group was founded in Italy in 1959 and has international operations in Europe, Asia, North America and Brazil and the rest of the world with 85 locations across 64 countries.
The group’s customers include global luxury brands, high-end watchmakers, jewellery manufacturers and distributors, diamond dealers, precious stone producers and private clients.
The offer will consist of a private placement of existing shares held by members of the founding family through Deiana Holding Limited to a range of institutional investors in various jurisdictions.
In June 2024, CityAM reported that Ferrari Group grew its revenue to €333m (£282m) in 2023, up more than seven per cent from €310m (£262m) the year before.
This was the first time since its founding in 1959 that the firm has seen sales exceed €330m, with Ferrari Group attributing the record results to its “ability to increase the volumes of its business with both new and existing customers across all geographic locations”.
Ferrari Group – which despite the name is not connected to the famous Italian carmaker – invested significantly in increasing its presence in Germany, the Netherlands, Canada and South Korea throughout 2023.
Float will ‘increase Ferrari group’s public profile’
Marco Deiana, chief executive of Ferrari Group and member of the founding family, said: “Today’s announcement marks a momentous new chapter in Ferrari Group’s strategic journey.
“Since 1959, we have grown from a customs broker and forwarding company in northwest Italy, to a trusted global leader offering end-to-end critical services to international luxury brands across the entire delivery value chain.
“Our commitment to delivering tailored solutions for complex transportation needs has driven consistent and profitable growth, providing us with a strong platform from which to deliver further progress through increased services, regional expansion, adjacent service offerings and margin development.
“Our proposed listing on Euronext will increase the group’s public profile and brand awareness while enabling the business to access diversified sources of funding, supporting our ambitious growth plans.
“We are excited to share our journey with our potential new investors as we build on our legacy of excellence and shape the future of luxury goods logistics.”