Luxury logistics company Ferrari Group said on Thursday it priced its initial public offering at €8.60 per share, just above the midpoint of its indicative price range.

Ferrari Group’s shares were up almost 5% in early trading on its debut on the Amsterdam bourse.

The IPO price gave the company an initial market capitalisation of €785 million ($818 million).

The founding family sold 25% of existing shares in the company, with books covered throughout the range on the full deal size, a bookrunner had said last week.

The group was founded in 1959 and focuses on shipping luxury goods such as high-end watches and jewellery.