(Bloomberg) -- Ferretti SpA, the Italian luxury yacht builder partly owned by the Ferrari family, is considering an initial public offering in Hong Kong that could raise about $100 million, people with knowledge of the matter said.
The company is seeking to complete a funding round before a potential listing slated for 2022, said one of the people, who asked not to be identified as the information is private.
Deliberations are ongoing and details such as timing and size of the fundraising could change, the people said. A representative for Ferretti declined to comment.
Ferretti had attempted a Milan listing in 2019 but scrapped it, blaming a weak market. It originally targeted a market value of about 1.08 billion euros ($1.2 billion), which almost halved later after it lowered the price range before abandoning the plan altogether.
Chinese giant Shandong Heavy Industry Group Co. bought a majority stake in Ferretti in 2012. Four years later, the Ferrari family's investment vehicle bought about 13% of Ferretti.
Established in 1968, Ferretti has expanded via acquisitions of builders and facilities, according to its website. It operates six shipyards in Italy and sells yachts to customers in more than 70 countries with brands including Ferretti Yachts, Itama, Wally and Riva, made famous by celebrity owners including George Clooney.
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