Ferretti (09638.HK): Receives Partial Tender Offer from Controlling Shareholder, Proposing to Acquire up to 15.4% of Shares at €3.50 per Share

NewTimeSpace · 2026/01/19 13:17 · By Xuran Lin

KKCG Maritime, the controlling shareholder of Ferretti S.p.A., announced its intention to launch a voluntary, conditional partial cash tender offer to acquire up to 52,132,861 shares of Ferretti, representing 15.4% of the company’s issued share capital, at a price of €3.50 per share. Upon completion of the offer, KKCG Maritime’s shareholding ratio in Ferretti will increase from 14.5% to 29.9%, and it plans to nominate director candidates at the annual general meeting of shareholders.

Ferretti S.p.A. (09638.HK) announced that its major shareholder, KKCG Maritime, has launched a partial cash tender offer. KKCG Maritime intends to acquire up to 52,132,861 shares of Ferretti, accounting for 15.4% of the company’s issued share capital, at a price of €3.50 per share (equivalent to approximately HK$31.71 per share).

In the event of full acceptance of the offer, KKCG Maritime’s shareholding in Ferretti will rise from the current 14.5% to 29.9%, which is still below the threshold for triggering a mandatory general offer. The maximum total consideration for the offer will be approximately €182 million, to be fully funded by KKCG Maritime’s internal resources.

The tender offer will be conducted simultaneously in Italy and Hong Kong, and is subject to a number of conditions for its effectiveness. KKCG Maritime stated that the offer is launched for the purpose of increasing its investment and consolidating its existing interests. It plans to exercise its rights as a major shareholder at Ferretti’s next annual general meeting of shareholders, nominating director candidates and participating in voting.

The offer document is expected to be dispatched to shareholders within 21 calendar days from the date of this announcement, and is subject to the approval of the Commissione Nazionale per le Società e la Borsa (CONSOB) and the Executive of the Securities and Futures Commission (SFC) of Hong Kong. The company reminded that there is no guarantee that the tender offer will be implemented, and shareholders and potential investors should exercise caution when dealing with the company’s shares.

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