Ferrari NV Faces Investor Concerns After Major Shareholder Sells Off

In a significant market move, Ferrari NV's stock experienced a sharp 7% drop this Thursday. This downturn came in the wake of Exor NV, a principal stakeholder, announcing the sale of around 7 million shares, which accounts for 4% of Ferrari's total shares.

The transaction, valued at an eye-watering €3 billion, is part of what's known as an "accelerated bookbuild offering" and is set to be finalized by March 3, 2025. Despite Exor retaining its position as Ferrari's largest shareholder with 20% of the economic rights and 30% of the voting rights, this sale has sparked unease among investors regarding potential changes in the company's ownership landscape. Furthermore, Exor has committed to a 360-day lock-up period for its remaining shares, aiming to stabilize investor confidence.

By 10:14 am CET, the company's stock had fallen by 7.74%, trading at €445.70 per share.