Investing.com -- Luxury logistics firm Ferrari (NYSE: RACE ) Group Plc has announced its intention to launch an initial public offering (IPO) in Amsterdam. This move positions the company as one of the first in Europe to seek a listing in the current year.

The Deiana family, who currently control the company, plan to sell a 25% stake in the IPO, as indicated in a statement released on Monday. Bloomberg reported on Sunday that the company may be seeking a valuation exceeding $1 billion.

Ferrari Group, known for its transportation and customs services for luxury items, was established in Italy in 1959. According to the statement, the company generated about €333 million ($348 million) in revenue and €90 million in earnings before interest, taxes, and depreciation in 2023.

The group expects its revenues for the year ending in December to range between €345 million and €350 million, as stated in Monday's announcement. Furthermore, the company plans to aim for an annual dividend payout ratio of at least 40% on average.

Goldman Sachs Group Inc (NYSE: GS ). and Jefferies Financial Group Inc. are leading the offering.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.