Ferretti slips into Hong Kong with the tug-of-war over the renewal of the board of administrators | EUROtoday

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(Il Sole 24 Ore Radiocor) – The tug of conflict between shareholders in view of the renewal of the board of administrators is weighing on Ferretti shares on the Hong Kong Stock Exchange. On the eve of the principle shareholder Ferretti International Holding (Fih), which belongs to the Chinese Weichai group, “took note” of the announcement of thepartial takeover bid by the Czech associate Kkcg Maritimespecifying that it «doesn’t settle for, nor has any intention of accepting, this partial takeover provide».

Weichai additionally reiterated “his strong confidence in the company’s long-term strategy, its industrial fundamentals and growth prospects”. The Chinese associate then left the door open to additional strengthening of Ferretti’s capital, noting that he considers his funding to be of a “strategic and long-term nature” and recalling that “in line with this approach, Fih has, from time to time, increased its stake in the company”. The firm, subsequently, «will be capable to proceed to guage additional will increase in its stake within the firm» and «plans to take care of efficient management and appoint a majority of the board of administrators on the subsequent annual common assembly, as a way to assist the constant implementation of the corporate’s long-term technique». In flip, final week KKCG, a bunch based by the Czech entrepreneur Karel Komarek, introduced that it needed to “exercise its voting rights in support of the election of the candidates to the board of directors that it will propose in the context of the next Ferretti shareholders’ meeting”.

Weichai’s announcement, Equita analysts remark, «makes clear the presence of two various choices for controlling Ferretti in view of the renewal of the board of administrators, which can happen with the approval of the 2025 outcomes”.