MILAN : Italian investors led by Milanese asset manager Banca Mediolanum bought into an Hong Kong initial public offering by luxury yacht maker Ferretti, which saw Chinese investors take the lion's share, a person with knowledge of the matter said.
It will use the cash to broaden its brand portfolio and also strengthen services for owners of its boats, it has said. Of the rest, the top 10 investors took more than half, the source and a second person close to the transaction said. Ferretti, whose brands include Riva, Pershing and Wally, is owned by Chinese conglomerate Weichai Group.
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