Luxury logistics company Ferrari Group Plc’s founding family is looking to raise about €205 million ($212 million) in an initial public offering in Amsterdam in one of the bourse’s first listings this year.

The jewelry-courier’s controlling Deiana family is offering about 22.8 million shares, the equivalent of a 25% stake, for €8 to €9 apiece, according to a statement on February 6. A sale at this range would give the company an implied market value of as much as €822 million. The offering has gathered enough demand to cover the full size of the deal, according to a bookrunner message.

Ferrari Group, which isn’t related to automaker Ferrari NV, wouldn’t be selling any new shares. The Deiana family may raise a further €30.8 million through an overallotment option.The offering is being led by Goldman Sachs Group Inc. and Jefferies Financial Group Inc. The shares are set to start trading on February 13 under the ticker “FERGR.”

Ferrari Group’s listing will serve as a fresh indicator of whether European IPO activity can build on last year’s European volumes that topped $20 billion.

Elsewhere, HBX Group International Plc has kicked off an offering in Spain, and Diagnostyka SA is set to debut in Warsaw on February 7.

Known for transporting and handling customs services for luxury items, Ferrari Group was established in Italy in 1959. It generated about €333 million ($348 million) of revenue and €90 million of earnings before interest, taxes and depreciation in 2023, the company said in January.

The group expects that its revenues for the year through December will be in a range between €345 million and €350 million, it said previously. The company intends to target an annual dividend pay-out ratio of at least 40% on average.