LONDON, June 8 (Reuters Breakingviews) - Chinese-owned yacht maker Ferretti is testing uncharted waters.
Prada shares have been trading exclusively in the Asian financial centre since the company’s 2011 initial public offering.
For Ferretti, Hong Kong has provided a helpful springboard.
Ferretti shares trade at 12 times expected net earnings of 78 million euros this year, lower than Milan-listed rival Sanlorenzo’s (SNL.MI) 15 times multiple.
In Hong Kong many shares still exist as physical certificates; these are traded electronically only after being deposited in a centralised system.
Persons:
Ferretti, Riva speedboats, Prada, Miuccia Prada, Patrizio, Alberto Galassi, Sanlorenzo’s, Lorenzo Bertelli, Lisa Jucca, Oliver Taslic
Organizations:
Reuters, Hollywood, Weichai Group, Reuters Graphics Reuters, Weichai, Ferretti International Holding SpA, Hong Kong Stock Exchange, Thomson
Locations:
Hong Kong, Milan, Italy, China, China’s