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Ferrari floats on Italian Stock Exchange

Ferrari shares have begun trading on the Borsa Italiana (Italian Stock Exchange) in Milan.

“Ferrari: A new milestone, a new start”, these 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. 

Raffaele Jerusalmi, CEO of Borsa Italiana presided over the ceremony, which took place a few months after Ferrari’s debut on the New York Stock Exchange last October 21, while Matteo Renzi, Prime Minister of Italy, was the guest of honour.

The stock began trading after Marchionne, FCA Chairman John Elkann, Ferrari CEO Amedeo Felisa and Ferrari Vice Chairman Piero Ferrari rang the traditional opening bell.

Thereafter Marchionne made a brief speech, during which he underlined the fact that Ferrari’s listing on the MTA (Mercato Telematico Azionario) represents a new start, rather than a point of arrival and that its now complete spin-off from FCA reaffirms the independence Ferrari has always enjoyed within the group.

He highlighted the brand’s Italian heritage and thanked John Elkann and Piero Ferrari, heirs of Giovanni Agnelli and Enzo Ferrari, who in 1969 forged a historic alliance between their two car firms.

Marchionne also made reference to the forthcoming Formula 1 season, joking with Team Principal Maurizio Arrivabene that he expects Ferrari to return to its rightful place at the top of the sport.

The ceremony concluded with remarks by Prime Minister Renzi, who was then presented with a 1:8 scale sized model of the most recent Formula 1 car, the SF15-T.