Investing.com -- Shares of Ferrari (NYSE:RACE) Group climbed to €8.80 during the trading session in Amsterdam, marking an increase from the initial public offering price set at €8.60 per share.
The luxury logistics firm, known for handling high-end goods including watches, jewelry, and diamonds, made its debut on the Amsterdam stock exchange today.
The IPO pricing, reported by a bookrunner, was established in the upper half of the anticipated range, reflecting robust investor interest.
The founding family divested 25% of their existing shares in the company, with the bookrunner noting that the books were covered throughout the range on the full deal size in the week preceding the listing.
Ferrari Group, established in 1959, has garnered attention for its specialized services in the luxury sector. The successful pricing of its shares and the subsequent rise on the first day of trading suggest a positive market reception to the company’s public offering.
The IPO marks a significant milestone for Ferrari Group, allowing it to expand its visibility and potentially capitalize on new opportunities in the luxury market.
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