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Introduction to our strategy no description yet Quick Summary Metric Value Return % p.a. 19 Days active 410 …
tickers: EUR-USD
source: GlobeNewswire
tickers affected by this
| ticker | polarity | why? |
|---|---|---|
| EUR-USD | positively | The repurchase of shares by Ferrari, funded by its cash on hand, will likely increase demand for the Euro, as the company will need to convert USD to EUR for the transaction, potentially strengthening the EUR-USD exchange rate. Additionally, the share buyback program signals confidence in the company’s financial health, which could attract more investors and further boost the Euro. |
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summary
Ferrari Announces Seventh Tranche of Multi-Year Share Repurchase Program
February 26, 2025 Ferrari N.V. has announced its intention to repurchase up to 10% of Exor’s total offering, up to a maximum of Euro 300 million, following the accelerated bookbuild offering announced by Exor on February 26, 2025. This share repurchase is part of Ferrari’s multi-year Euro 2.0 billion share buyback program, announced during the 2022 Capital Markets Day. This transaction marks the seventh tranche of the program. It will be financed by Ferrari’s cash on hand and will not affect the company’s strategic plan or financing capabilities. The repurchase is within the limitations of the share buyback mandate approved at the April 17, 2024, Annual General Meeting of Shareholders. On February 20, 2025, Ferrari completed the sixth tranche of the program, announced on December 5, 2024. As of February 25, 2025, Ferrari held 15,119,211 common shares in treasury, equal to 5.88% of the total issued share capital. From the start of the program until February 25, 2025, Ferrari has purchased a total of 4,296,447 own common shares on the Euronext Milan (EXM) and the New York Stock Exchange (NYSE), including transactions for Sell to Cover, for a total consideration of Euro 1,322,735,977.17. Details of the repurchase transactions carried out under the seventh tranche will be disclosed to the market as required by applicable regulation.
