Ferrari NV Faces Investor Concerns After Major Shareholder Exor NV Sells 4% Stake

In a significant move that has sent ripples through the market, Exor NV, a key stakeholder in Ferrari NV, announced the sale of approximately 7 million shares, representing 4% of Ferrari's total shares. This transaction, valued at a staggering €3 billion, was executed through an "accelerated bookbuild offering" and is set to be finalized on March 3, 2025.

Market Reacts: Ferrari's Stock Takes a 7% Hit

Following the announcement, Ferrari's stock experienced a sharp decline, dropping by 7% to €445.70 per share by 10:14 am CET. This reaction underscores the market's sensitivity to changes in the ownership structure of high-profile companies like Ferrari.

Exor's Commitment to Ferrari's Future

Despite the sale, Exor NV has reassured stakeholders of its continued commitment to Ferrari, retaining its position as the largest shareholder with 20% of the economic rights and 30% of the voting rights. Furthermore, Exor has pledged a 360-day lock-up period for its remaining shares, signaling its long-term confidence in Ferrari's value and potential.