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

In a surprising move that sent ripples through the market, Ferrari NV's stock experienced a sharp 7% drop on Thursday. This decline came in the wake of Exor NV, a significant stakeholder in Ferrari, announcing the sale of approximately 7 million shares, which constitutes about 4% of Ferrari's total shares. The transaction, valued at a staggering €3 billion, is set to be finalized on March 3, 2025, through an "accelerated bookbuild offering."

Exor NV Remains a Dominant Force in Ferrari Despite Share Sale

Despite this substantial sale, Exor NV will continue to hold a considerable influence over Ferrari, retaining 20% of the economic rights and 30% of the voting rights, thereby remaining the largest shareholder. However, this move has sparked concerns among investors regarding potential changes in Ferrari's ownership structure. In a bid to reassure stakeholders, Exor has committed to a 360-day lock-up period for its remaining shares, signaling a temporary halt to further sales.

Market Reaction and Future Outlook

The market's reaction was immediate, with Ferrari's stock price falling by 7.74% to €445.70 per share at 10:14 am CET. This downturn reflects the market's sensitivity to changes in major shareholders' stakes and the potential implications for the company's future direction. Investors and market analysts alike will be closely monitoring Ferrari's performance in the coming months, eager to see how this significant share sale impacts the company's stock value and strategic decisions.