October 1, 2019 / 7:52 AM / a month ago

Italian yacht maker Ferretti says IPO period to run from October 1-10

FILE PHOTO: An employee works on a yacht at the Ferretti's shipyard in Sarnico, northern Italy, April 7, 2015. REUTERS/Stefano Rellandini/File Photo

MILAN (Reuters) - Italian luxury yacht maker Ferretti said on Tuesday an initial public offering (IPO) period for its shares would run from Oct. 1-10.

The company said on Monday it had been authorized to list its shares in an IPO that would value it up to 1.08 billion euros ($1.18 billion).

Ferrretti added it aimed at starting trading of its shares on the Milan bourse on Oct. 16.

Reporting by Francesca Landini, writing by Giulio Piovaccari, editing by James Mackenzie

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