Ferrari Group, which specialises in shipping luxury goods across the globe, has announced plans to float in Amsterdam in another blow to the London Stock Exchange.

The London-headquartered company has confirmed its intention to launch an initial public offering (IPO) on Euronext Amsterdam.

Ferrari Group was founded in Italy in 1959 and has international operations in Europe, Asia, North America and Brazil and the rest of the world with 85 locations across 64 countries.

The group’s customers include global luxury brands, high-end watchmakers, jewellery manufacturers and distributors, diamond dealers, precious stone producers and private clients. 

The offer will consist of a private placement of existing shares held by members of the founding family through Deiana Holding Limited to a range of institutional investors in various jurisdictions.

In June 2024, City AM reported that Ferrari Group grew its revenue to €333m (£282m) in 2023, up more than seven per cent from €310m (£262m) the year before.

This was the first time since its founding in 1959 that the firm has seen sales exceed €330m, with Ferrari Group attributing the record results to its “ability to increase the volumes of its business with both new and existing customers across all geographic locations”.