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Italian yacht maker Sanlorenzo says to float up to 35% of capital by year-end

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MILAN (Reuters) – Sanlorenzo has filed a request with the Milan stock exchange to list its shares and expects to launch the offering by the end of the year, the Italian luxury motor yacht maker said on Monday.

Sanlorenzo plans to float up to 35% of its capital, offering both new and existing shares.

“Proceeds deriving from the capital increase are intended to be used by the company mainly to foster and accelerate its future growth and to seize market opportunities,” the group said in a statement.

(Reporting by Elisa Anzolin, editing by Valentina Za)

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