Italian luxury shipments company Ferrari Group on Monday announced plans to launch an initial public offering (IPO) and listing on the Amsterdam bourse.

The offering, expected to take place in the coming weeks, will consist of a private placement of 25% of the shares held by the founding family through their holding company, Deiana Holding, to a range of institutional investors, the company said in a statement.

Founded in 1959 in Italy as a customs broker and forwarding company, Ferrari Group says it focuses on the handling of luxury goods such as high-end watches, jewellery and diamonds, worth an overall value of over €170 billion per year.