Italian super-yacht maker Ferretti scraps Milan listing
London — Ferretti, the Italian super-yacht maker, partially owned by the Ferrari family, scrapped its planned Milan listing on Thursday, citing weak market conditions, adding to a growing pile of recently pulled initial public offerings (IPOs) in Europe.
The cancellation came after the offer period for the listing was extended twice and the price range slashed. Despite interest from a number of investors, deteriorating financial markets led to an “incorrect valuation of the company”, Ferretti said in a statement. The company had cut the range for its offering to €2 to €2.50 per share, from an initial range of €2.50 to €3.70...
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