Ferretti CEO says Chinese owner aims to cut stake through IPO


MILAN, April 16 (Reuters) - Ferretti's Chinese owner is planning to list the Italian luxury yacht maker as a way of reducing its stake though a timetable for the deal has still not been set, the chief executive said on Tuesday.

Sources said last week Chinese conglomerate Weichai Group had lined up Barclays , BNP Paribas and UBS as global coordinators for a share sale.

Alberto Galassi told reporters no formal process for the listing had yet been launched, adding he did not see it happening before year end.

This article appears in: World Markets , Economy , US Markets , Stocks , IPOs

More from Reuters


See Reuters News

Research Brokers before you trade

Want to trade FX?