Offering from 27 November 2019 to 5 December 2019

Ameglia (La Spezia), 28 November 2019. Sanlorenzo, leading global brand in terms of number of yachts over 30 metres long (“Sanlorenzo” or the “Company” and, together with its subsidiaries, the “Group”) announces that today, the Italian Companies and Stock Exchange Commission (“CONSOB”) has approved the prospectus (the “Prospectus”) relating to the admission to listing (the “Listing”) of Sanlorenzo ordinary shares (the “Shares”) on the Mercato Telematico Azionario online stock market (“MTA”) on the STAR segment (if the necessary requirements are met) organized and managed by Borsa Italiana S.p.A (“Borsa Italiana”).

On 26 November 2019, Borsa Italiana issued its authorization for admission to listing of the Shares on the MTA. Furthermore, on 27 November 2019, the Company submitted to Borsa Italiana the application for admission to trading of its Shares on the MTA.

The Offering

As previously announced on 26 November 2019, the Offering is aimed at the admission to trading of Shares on the MTA of Borsa Italiana and will comprise up to 11,000,000 Shares, representing approximately 31.9% of the share capital (post Capital Increase) of the Company.
In particular, the Offer consists of:

  • up to 4,500,000 newly issued Shares resulting from a capital increase with the exclusion of option rights (the “Capital Increase”);

  • up to 6,500,000 Shares offered for sale by Holding Happy Life S.r.l. (the “Selling Shareholder” or “HHL”), the Company’s majority shareholder controlled by Massimo Perotti, Executive Chairman of Sanlorenzo.

The Selling Shareholder has also granted the Joint Global Coordinators an option to purchase up to an additional 1,100,000 Shares, equal to 10% of the maximum number of Shares in the Offer.
In the event the greenshoe option is exercised in full, the maximum number of Shares sold in the Offer will be 12,100,000 Shares, corresponding to approximately 35.1% of the Company’s share capital (post Capital Increase).

As announced on 26 November 2019, the indicative valuation range of the Company’s share capital prior to the Capital Increase is between €480 million and €570 million, equal to a minimum price of €16.00 per Share and a maximum price of €19.00 per Share, and corresponding to a capitalization following the Capital Increase of between €552 million and approximately €656 million.

The offer price of the shares will be determined according to the open price bookbuilding at the end of the Institutional Placement – and will be made public on the Company’s website – taking into account, among other things, the conditions of the domestic and international securities market and the quantity and quality of expressions of interest received from institutional investors.

The proceeds from the Capital Increase are intended to be used by the Company mainly to cover financial debt, as well as to foster and accelerate its future growth and to seize market opportunities.

Offering Period

The Offer started on 27 November 2019, and will end on 5 December 2019, except in the event of an extension or early closure of the offering period which would be announced via a press release published on the Company’s website

The first trading date, currently expected to be 10 December 2019, will be confirmed by Borsa Italiana via specific notice.

The Prospectus has been filed with CONSOB and made available at the Company’s registered office in Ameglia (La Spezia), Via Armezzone 3, as well as on the Company’s website


In connection with the Offering, Banca IMI (Intesa Sanpaolo Group), BofA Securities and UniCredit Corporate & Investment Banking are acting as Joint Global Coordinators and Joint Bookrunners.

Banca IMI (Intesa Sanpaolo Group) is also acting as Sponsor of the admission to listing of the Shares.
Alantra is acting as Financial Advisor of the Company. Lazard is acting as Financial Advisor of the Selling Shareholder.

Musumeci, Altara, Desana e Associati Studio Legale and Latham & Watkins are acting as Italian Legal Counsel and International Legal Counsel of the Company, respectively.

White & Case is acting as Italian Legal Counsel and International Legal Counsel of the Joint Global Coordinators and Bookrunners.


Press contacts:
Weber Shandwick | Advisory
Giorgio Catalano M. 334 696 9275
Francesca Visioni M. 342 973 7950