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(Bloomberg) -- A company maintaining some of the world’s most luxurious superyachts plans to sell shares in London as it forecasts an increase in business driven by growth in the number of billionaires worldwide.
Barcelona-based GYG plc, whose projects have included LVMH Founder Bernard Arnault’s 333-foot Symphony and the 282-foot Ecstasea built for Russian oligarch Roman Abramovich, hopes the offering will boost its profile while allowing it to make further acquisitions, according to a statement Tuesday.
The company intends to raise around seven million pounds ($9 million) on London’s AIM exchange, giving it a market capitalization of about 46.6 million pounds. It had revenue of 54.6 million euros ($60.9 million) last year, and says its clients include 25 of the 50 largest superyachts.
The group was formed in 2012 through the merger of Pinmar SL and Rolling Stock SL, before Lonsdale Capital Partners LLP led a buyout of the group four years later. Lonsdale will continue to hold 19.3 percent of the company after the offering, while management will hold 18.0 percent.
Superyacht numbers have historically increased in line with the number of billionaires, GYG added, saying their total population is expected to reach 2,500 by 2020. The same year, the global fleet of yachts longer than 40 meters is expected to reach 2,285, after growing about 6 percent per year from 2007 to 2015.
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