It was simply a question of ‘when’ as opposed to ‘if’ it was going to happen, but finally, it can be put to rest. Ferrari has officially broken away from Fiat Chrysler Automobiles (FCA). The move has been years in the making and all signs pointed to an eventual split when the Italian automotive giant announced Ferrari’s initial public offering back in October 2015.
With the spin-off completed, FCA’s current shareholders are entitled to receive one common share in Ferrari for every ten shares they have in Fiat Chrysler. In addition, individuals who hold FCA mandatory convertible securities are allowed to receive 0.77369 shares of Ferrari for each MCS unit of $100 in notional amount. Following the separation, a total of 188,923,499 common shares in Ferrari are outstanding, while the issued common shares in the capital of Ferrari stands at 193,923,499.