Ferretti SpA, the superyacht maker partially owned by the Ferrari family, will be valued at as much as 1.08 billion euros ($1.2 billion) in an initial public offering in Milan, confirming Italy as one of the busiest venues for new listings this year.

The indicative price range is between 2.50 euros and 3.70 euros per share, corresponding to a post-capital increase market value of 727 million euros to 1.08 billion euros, Ferretti said in a statement.

Ferretti is controlled by China’s SHIG–Weichai Group, which purchased 75% of the company in 2012. The heir of Enzo Ferrari, the founder of the iconic Italian supercar maker, bought about 13% of Ferretti in 2016.

The company operates six shipyards in Italy and sells yachts to customers in more than 70 countries with brands including Ferretti Yachts, Itama, Wally and Riva, perhaps its best-known marque, made famous by celebrity owners from Elizabeth Taylor and Brigitte Bardot to Sean Connery and George Clooney.

Revenue in 2018 totaled 609 million euros with adjusted earnings before interest, taxes, depreciation and amortization of 53 million euros.

Yacht maker Sanlorenzo, a boutique firm that makes only a limited number of custom-made vessels per year, is also holding an IPO in Milan.

Barclays Bank Plc, BNP Paribas SA, Mediobanca SpA and UBS Investment Bank will act as joint global coordinators and joint bookrunners in the Ferretti listing. BNP Paribas will also act as a sponsor and BPER Banca SpA will be co-manager.

--With assistance from Tommaso Ebhardt.

This article was provided by Bloomberg News.