Rocketing start for the title stellantis to the Stock Exchanges of Milano e Paris. After the rite of ringing the bell - officiated electronically by the president John Elkann in the Lombard capital and by the managing director Carlos Tavares in the French capital - at the end of the morning, the shares of the giant born from the merger of FCA and PSA they earn 6,5% in Piazza Affari (pulling the Ftse Mib which was slightly active at the end of the morning) and 5% also on the French list.
The debut of the new automotive group a Wall Street it will happen tomorrow, as today the US lists are closed for the Martin Luther King Jr day.
With the rise this morning, the capitalization of the stock in Piazza Affari exceeded 41 billion euro, while FCA alone was worth less than 20 billion last Friday. The price of the share reached 13,39 euros, compared to the 12,76 euros set as the initial quota.
Also good Exor: on the Italian Stock Exchange the holding of the Agnelli family – which is the first shareholder of Stellantis with 14,4% of the capital – travels up by 2,4%, to 66,64 euros. This is the second best performance on the main list, just behind Stellantis.
“This historic first day of trading for Stellantis shares – he commented Elkann – marks the beginning of an era of tremendous opportunity for our group. These are challenging yet exciting times in our industry, with change happening faster than at any time since its founding over a century ago. Stellantis begins its journey with the leadership, resources, diversity and know-how with which to build something truly unique and great, providing our customers with exceptional vehicles and mobility solutions and creating value for all our stakeholders."
Last Saturday Exor announced that, following the merger, it will deconsolidate the assets and liabilities of the former FCA, previously accounted for according to the line-by-line method of full consolidation, and will evaluate the investment in Stellantis with the equity method net "equity method", with an initial measurement at fair value and completion of the final value within one year of completion of the merger.
“We are very proud of the listing of Stellantis shares and we thank the shareholders and institutional investors who made this important moment possible – said Tavares – From today on, we will leverage the benefits of this €25 billion merger to pursue a strong performance and further increase shareholder value based on unrivaled competitive advantages. Both the managements of FCA and PSA have demonstrated their ability and reliability in completing the project and maintaining their commitments".
The preliminary effects of the accounting implications, which are not currently quantifiable, will be disclosed in the consolidated interim financial report as at June 30, 2021.
Read also: Stellantis debuts on the Stock Exchange: today in Milan and Paris, tomorrow on Wall Street
