After the transaction is completed, the company’s shares will list on the Nasdaq under the ticker symbol “LOT”. Lotus Tech’s value is expected to be about $ 5.4 billion.

Paolo Aimino, EY Italy market leader, and Frederico Bonelli, EY Western Europe retail, fashion, and luxury leader, noted that “After a record-breaking 2021, the global IPO market took a sharp turn in the opposite direction in 2022. With only 1,333 IPOs raising US$179.5b, IPO activity dipped 45% and 61% by number of deals and proceeds, respectively, year-over-year (YOY).”

As of the close at noon on January 16, the share price of Beauty Farm rose 57.09% from the issue price, with a market value of approximately HK$7.056 billion.

Each year Pambianco ranks the Italian companies that meet the “necessary conditions” and have the potential to go public.

“We just want to be a fashion group.”