Sanlorenzo, success for the institutional placement offering

Sanlorenzo Ipo, Successful conclusion of the institutional placement offering. Offering Price set at € 16.00, capitalization of € 552 million, commencement of trading scheduled for 10 December 2019

Ameglia (SP), 6 December 2019. Sanlorenzo, leading global brand in terms of yachts over 30 metres long (“Sanlorenzo” or the “Company” and, together with its subsidiaries, the “Group”), announces the successful conclusion of the offering reserved for institutional investors (the “Offering”) of the ordinary shares of the Company (the “Shares”) for listing on the Mercato Telematico Azionario (“MTA”) – STAR segment, organized and managed by Borsa Italiana S.p.A. (“Borsa Italiana”).

The offering price was set at € 16.00 per Share (the “Offering Price”).

The Offering comprises (i) No. 4,500,000 newly-issued shares resulting from a capital increase with exclusion of pre-emption rights (the “Capital Increase”), and (ii) No. 7,600,000 shares offered for sale by Holding Happy Life S.r.l. (the “Selling Shareholder” or “HHL”), Company’s majority shareholder controlled by Massimo Perotti, Executive Chairman of Sanlorenzo, including No. 1,100,000 Over Allotment option Shares being subject to the exercise of the greenshoe option (the “Greenshoe Option”).

Based on the Offering Price, the total value of the transaction, including the Greenshoe Option, amounts to € 193.6 million and the resulting capitalization of Sanlorenzo is € 552 million, including the € 72 million capital increase.

The Offering encountered strong interest by the Italian and international investor community, with demand at the Offer Price for approximately € 290 million by leading qualified investors and particularly by long only ones. Approximately two thirds of the demand comes from international investors and about a third from Italian investors.

In the event the Greenshoe Option is exercised in full, the free float will be 35.1% of the Company’s share capital. Holding Happy Life S.r.l. will hold No. 20,702,000 Shares, corresponding to approximately 60% of the total share capital.

The date of commencement of trading of the ordinary shares of the Company, subject to verification by Borsa Italiana of the existence of the requirements for distribution to the public, is scheduled for Tuesday 10 December 2019.

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