Major Shareholder Exor NV Reduces Stake in Ferrari

In a significant move that has sent ripples through the market, Exor NV, one of Ferrari's principal shareholders, has announced the sale of approximately 7 million shares. This transaction, amounting to a staggering €3 billion, represents about 4% of Ferrari's total shares. The deal, executed through an "accelerated bookbuild offering," is set to be finalized by March 3, 2025.

Investor Concerns Over Ownership Stability

Despite Exor NV's assurance of remaining Ferrari's largest shareholder, holding 20% of the economic rights and 30% of the voting rights, the market has reacted with apprehension. The sale has sparked concerns among investors regarding potential shifts in Ferrari's ownership structure. To alleviate fears, Exor has committed to a 360-day lock-up period for its remaining shares, aiming to stabilize investor confidence.

Market Reaction and Stock Performance

The announcement led to a sharp decline in Ferrari's stock value, which plummeted by 7.74% to €445.70 per share by 10:14 am CET. This significant drop underscores the market's sensitivity to changes in major shareholders' stakes, highlighting the intricate balance between ownership structure and stock performance in the luxury automotive sector.