Ferrari on Wall Street debut with an increase of 5% – The Messenger

Ferrari fly in the day of the debut on Wall Street, dressed in red for the occasion. The securities of the Maranello dart at $ 60 per share at the beginning, and come to rise to nearly $ 61, an increase of 17% compared to the $ 52 set by the IPO. But then hold back and closed the first trading day in New York with a rise of 5.77% nevertheless decided to $ 55 per share. This growth does not touch Fca, down to Milan where yields 5.2%.

John Elkann Sergio Marchionne and Piero Ferrari do not hide the excitement and satisfaction for a historic day, which sees parked a dozen Red outside the New York Stock Exchange and hats and red jackets on circular floor. Race with the symbol and the sound of the roar of the engine of Formula 1 that wafts out from Wall Street, Ferrari collects more than $ 900 million by selling 18.8 million shares, for a valuation of 10 billion dollars.

“The world is big and there are enormous opportunities for Ferrari,” says the president of the House of Maranello, Sergio Marchionne. With pricing “we begin to understand the true potential ‘of the mark, which may expand into” fields that are related to the car and that can make it grow, and more and more and in Italy with Italian. ” Now “we have to keep doing what we do well, and to win in Formula 1, which is a very important thing,” highlights Marchionne, joking about what will change for Fca after the listing of Ferrari. “We continue to make cars without having the opportunity to support us, at least as an image, a brand of this caliber. Let’s go back to be the losers of the car .. “.

General Motors meanwhile – she says CEO of Fca – is the ideal partner, but there are others. Stressing the complexity of the automotive industry and the need to change the system, Marchionne also warns that the impact of the Volkswagen “will change the dynamics of the market.”

Satisfied operation Ferrari also John Elkan, who rings the bell with Marchionne. The artist is a first step towards a Ferrari “life of its own. There is no doubt that Italy has always had a great appeal in the world for what it does well. And Ferrari it is strong evidence, “says Elkann outside NYSE, while hundreds of people they stop to contemplate the Ferraris on display and steal a few shots with the leaders of the Red Army. Then Elkann confirms the crossing even at the Milan Stock at the beginning of 2016.

‘Enzo’ Ferrari ‘would be happy, he believed in this country since the 1950s, would be very pleased, “highlights Piero Ferrari, Vice President of the House of Maranello, stressing “I had never imagined a day like this.” To those who observe how the IPO has become a billionaire, Piero Ferrari responded: “I have 10% of Ferrari, I keep it as the family home.”