Milan stock exchange Ferrari's next stop
AFP - [email protected]
Published: 23 Nov, 2015 CET.
Updated: Mon 23 Nov 2015 15:03 CET
Legendary carmaker Ferrari said on Monday it was seeking a share listing on the Milan stock exchange, a month after roaring onto Wall Street.
The nine percent of shares in Ferrari placed by the Fiat Chrysler Automobiles (FCA) in October will be quoted in both New York and Milan once the Italian listing goes ahead, it said.
The Wall Street sale on October 21 valued Ferrari at €10 billion ($10.6 billion).
Fiat Chrysler owned 90 percent of Ferrari before that flotation.
With a heavy debt level and a plan to invest €45 billion ($48 billion) to expand its total worldwide sales to seven million vehicles per year, Fiat Chrysler hopes to strengthen its finances by eventually spinning off more of the sports car maker.
Comments
See Also
The nine percent of shares in Ferrari placed by the Fiat Chrysler Automobiles (FCA) in October will be quoted in both New York and Milan once the Italian listing goes ahead, it said.
The Wall Street sale on October 21 valued Ferrari at €10 billion ($10.6 billion).
Fiat Chrysler owned 90 percent of Ferrari before that flotation.
With a heavy debt level and a plan to invest €45 billion ($48 billion) to expand its total worldwide sales to seven million vehicles per year, Fiat Chrysler hopes to strengthen its finances by eventually spinning off more of the sports car maker.
Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.
Please log in here to leave a comment.