Rising Billionaire Population Spurs Superyacht Refurbisher's IPO
- GYG paints and refits some of the world’s largest yachts
- Number of billionaires expected to reach 2,500 by 2020
Luxury vessels sit moored in the harbor during the Monaco Yacht Show (MYS) in Port Hercules, Monaco, on Sept. 28, 2016.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
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.