ROME (Reuters) -Luxury logistics company Ferrari Group said on Thursday it priced its initial public offering at 8.60 euros per share, just above the midpoint of its indicative price range.
Ferrari Group’s shares were up almost 5% in early trading on its debut on the Amsterdam bourse.
The IPO price gave the company an initial market capitalisation of 785 million euros ($818 million).
The founding family sold 25% of existing shares in the company, with books covered throughout the range on the full deal size, a bookrunner had said last week.
The group was founded in 1959 and focuses on shipping luxury goods such as high-end watches and jewellery.
($1 = 0.9601 euros)
(Reporting by Giulia Segreti, editing by Gianluca Semeraro and Keith Weir)
