2015BusinessVERIFIED

Ferrari Begins Trading on Wall Street as RACE

21 October 2015 — New York Stock Exchange

Ferrari shares began trading on the New York Stock Exchange under the ticker RACE on 21 October 2015, following an initial public offering priced at 52 US dollars per common share.

Jeffrey Zeldman from Manhattan, USA — Wikimedia Commons — CC BY 2.0

New York Stock Exchange · Jeffrey Zeldman from Manhattan, USA — Wikimedia Commons — CC BY 2.0

Automotive significance

The New York listing was a major step in Ferrari’s separation from FCA, but it did not by itself complete the separation. FCA sold roughly 10 percent of Ferrari through the IPO and still held about 80 percent immediately afterward, while Piero Ferrari retained about 10 percent. The final distribution of FCA’s remaining stake occurred in January 2016. Project Apex uses 21 October as the first trading date and avoids confusing it with later legal or settlement dates used in corporate filings.

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