Ferrari N V Stock Price, News & Analysis

Ferrari N.V. (NYSE/EXM: RACE) announced the continuation of its Euro 350 million share buyback program, a part of its multi-year Euro 2 billion buyback plan set to be completed by 2026. As part of the fourth tranche of the buyback, from June 10 to June 14, 2024, Ferrari acquired 39,826 common shares on EXM at an average price of €384.88 per share and 20,537 shares on NYSE at $413.77 per share. The total consideration for these purchases was approximately Euro 7.9 million. Since the start of the program, Ferrari has spent Euro 910.19 million to repurchase 3,309,306 shares. As of June 14, 2024, Ferrari holds 14,133,410 treasury shares, accounting for 5.50% of total issued share capital.

Ferrari N.V. (NYSE/EXM: RACE) has provided an update on its Euro 350 million share buyback program, which is part of a broader Euro 2 billion buyback initiative expected to conclude by 2026. As of June 7, 2024, Ferrari purchased 651,353 common shares on the Euronext Milan (EXM) for Euro 230.66 million and 248,654 common shares on the New York Stock Exchange (NYSE) for USD 99.39 million (Euro 91.45 million). The total consideration for these shares is around Euro 321.88 million. Ferrari now holds 14,093,584 common shares in treasury, equivalent to 5.48% of its total issued share capital. Since the start of the multi-year program in July 2022, Ferrari has bought 3,269,480 shares for approximately Euro 894.86 million.

Ferrari N.V. (NYSE/EXM: RACE) announced an update on its Euro 350 million share buyback program, the fourth tranche of a multi-year program totaling approximately Euro 2 billion, expected to be completed by 2026. From May 27 to May 31, 2024, the company purchased 39,016 common shares, investing a total of Euro 14,743,636.64. Since the start of this tranche, Ferrari has bought 631,960 shares on the Euronext Milan for Euro 223,256,895.83 and 238,857 shares on the NYSE for USD 95,386,719.05 (Euro 87,763,918.17). As of May 31, 2024, Ferrari holds 14,064,394 treasury shares, representing 5.47% of its total issued share capital. Since the program's inception in July 2022, Ferrari has acquired 3,240,290 shares for Euro 883,765,340.12.

Ferrari has detailed its recent progress in the Euro 350 million share buyback program, part of a larger Euro 2 billion initiative planned through 2026. Between May 20-24, 2024, Ferrari acquired 19,239 common shares on the Euronext Milan (EXM) for approximately Euro 7.4 million and 41,996 shares on the New York Stock Exchange (NYSE) for around USD 17.5 million. The company has invested a total of Euro 215.87 million on EXM and USD 87.39 million (Euro 80.41 million) on NYSE shares for 612,474 and 219,327 shares respectively since the announcement of this tranche. Currently, Ferrari holds 14,025,378 shares in treasury, constituting 5.46% of its total issued share capital. Since the program's inception, Ferrari has repurchased 3,201,274 shares for Euro 869.02 million.

On 21 May 2024, Ferrari announced the settlement of its Euro 500 million notes offering. The notes, due on 21 May 2030, have an annual interest rate of 3.625% and were issued at 99.677% of their principal amount. After deducting offering costs and expenses, Ferrari raised approximately Euro 497 million. The notes are listed on Euronext Dublin's Official List and will trade on its regulated market. The Central Bank of Ireland approved the related prospectus on 15 May 2024, and it is available on Ferrari's corporate website alongside other relevant documents.

Ferrari N.V. (NYSE/EXM: RACE) announced updates on its Euro 350 million share buyback program, part of a larger Euro 2 billion buyback initiative expected to conclude by 2026. Between May 13 and May 17, 2024, Ferrari purchased 56,176 shares: 19,346 on Euronext Milan (EXM) and 36,830 on the New York Stock Exchange (NYSE), for a total consideration of Euro 21,669,590.11. Since the start of the Fourth Tranche, Ferrari has bought 593,235 shares on EXM for Euro 208,468,400.36 and 177,331 shares on NYSE for USD 69,890,582.49 (approximately Euro 64,283,882.61). As of May 17, 2024, Ferrari holds 13,964,143 treasury shares, equating to 5.43% of its total issued share capital.

On 14 May 2024, Ferrari announced the pricing of a €500 million issue of notes due in May 2030, which was more than twice oversubscribed. The notes are priced at 99.677% of their principal amount and carry an annual coupon of 3.625%. The funds raised will be used for general corporate purposes. Banco Santander, BNP Paribas, Citigroup, Crédit Agricole, J.P. Morgan, Mediobanca, and UniCredit acted as Joint Lead Managers. The notes are expected to be admitted to the Official List of Euronext Dublin and to trade on its regulated market by 21 May 2024.

Ferrari N.V. informs about the Fourth Tranche of its Euro 2 billion share buyback program, reporting the purchase of common shares on the Euronext Milan and NYSE. Since July 2022, the company has acquired over 3 million own common shares for approximately Euro 823 million. As of May 10, 2024, Ferrari holds 5.41% of the total issued share capital.

Ferrari N.V. announced the offering of unsecured debt securities (Notes) to be used for general corporate purposes. The Notes will be offered under Regulation S, not registered in the U.S., and targeted at specific investor groups. The press release is not an offer for U.S. residents.