Ferrari splits from FCA after its IPO
Ferrari has now officially split from the FCA group after the company's recent initial public offering. As a consequence of this, stakeholders at FCA will receive one common share in Ferrari for every ten shares that they hold in Fiat Chrysler. Certain shareholders will also receive special voting shares.
The shares that have been distributed account for 80 per cent of the company's stakes. Of the remaining 20 per cent, 10 was floated as Ferrari's IPO and the other 10 is owned by Enzo Ferrari's son Piero Ferrari, the vice chairman of the company.
The shares will continue to be traded at the New York Stock Exchange under the ticker labelled Race. Starting this week, they will also be traded at the Mercato Telematico Azionario, which is a part of Borsa Italiana, Italy's main stock exchange.
The Agnelli family, headed by chairman John Elkann, holds the largest stake in FCA and will most likely control the largest portion of Ferrari as well. Around half the shares and most of the voting rights will probably be controlled by the Agnelli and Ferrari families. Sergio Marchionne, who previously headed both Fiat and Chrysler before the merger, will continue to serve as the chairman of Ferrari and the chief executive of FCA.
Starts Rs 3.97 Crore
- OpinionNatural selection
- FeaturesThe Brembo 19RCS Costa Corsa explained
- News2018 Merzouga Rally: Sherco TVS rider Joan Pedrero Garcia finishes seventh overall
- NewsBosch develops an automated valet parking system with e. Go
- NewsSMEV signs an MoU with TAITRA to develop EV development infrastructure
- NewsToyota wants privacy concerns addressed before it adds Android Auto
- OpinionWe make modern cars, so why not tanks?
- NewsUpcoming Lexus ES facelift teased in video ahead of Beijing Auto Show launch
- NewsHonda unveils Small RS Concept in Indonesia, preview to next Brio
- NewsDucati to offer radar, cornering ABS but not missiles on its motorcycle range