Ferrari NV's Stock Takes a Hit

Following the announcement by Exor NV, a significant shareholder, about the sale of approximately 7 million shares, Ferrari NV's stock experienced a sharp decline of 7% on Thursday. This sale represents 4% of Ferrari's total shares.

Details of the €3 Billion Transaction

The transaction, valued at €3 billion, is part of an "accelerated bookbuild offering" and is set to settle on March 3, 2025. Despite Exor remaining Ferrari's largest shareholder with 20% of the economic rights and 30% of the voting rights, this move has sparked concerns among investors regarding potential changes in the company's ownership structure. Exor has also committed to a 360-day lock-up period for its remaining shares.

Market Reaction

At 10:14 am CET, the company's stock was down by 7.74%, trading at €445.70 per share.