MILAN Shares in Italian yacht maker Ferretti rose more than 4% in initial trading on their market debut on Euronext Milan on Tuesday.

Ferretti, which listed in Hong Kong last year, priced its offer for a dual listing in Milan at 3 euros per share, giving the company a valuation of around 1 billion euros ($1.1 billion).

(Reporting by Elisa Anzolin; Editing by Keith Weir)