Ferrari and Fiat Chrysler Automobiles (FCA) are now officially separated. The move, completed on January 3rd, was immediately followed by the Ferrari Listing Ceremony on the Italian Stock Exchange in Milan.
Under the terms of the separation, FCA shareholders are entitled to receive one common share of Ferrari for every 10 FCA common shares held. In addition, holders of FCA mandatory convertible securities are entitled to receive 0.77369 common shares of Ferrari for each MCS unit of $100 in notional amount.
“Ferrari: A new milestone, a new start” were the words Ferrari Chairman Sergio Marchionne inscribed in the guest book of the Italian Stock Exchange during the Ferrari Listing Ceremony on the MTA. He also paid tribute to the city of Milan, where Enzo Ferrari began his career behind the wheel of an Alfa Romeo, and presented a 1:8 scale sized model of the most recent Formula 1 car, the SF15-T.