October 10, 2019 / 4:59 PM / 4 months ago

Italy's Ferretti IPO postponed to Oct. 15

MILAN, Oct 10 (Reuters) - Italian yacht maker Ferretti said on Thursday it had postponed the deadline for its initial public offering (IPO) to Oct. 15, with the first day of trading now expected on October 21.

The share offering, which started on October 1, was scheduled to end on Thursday, Oct. 10.

Two sources close to the matter told Reuters the share sale had seen weak demand. One of the sources said the order book had not been covered a day before the scheduled closure of the offer period. The company was hoping for strong demand from Asian investors to save the IPO.

Ferretti is controlled by Chinese conglomerate Weichai Group with an 86% stake. (Reporting by Elisa Anzolin; editing by Francesca Landini)

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