Fiat Chrysler (NYSE:FCAU) Sees Ferrari Spinoff Valued At $11-B

Posted by: : Paul EbelingPosted on: July 4, 2015 Fiat Chrysler (NYSE:FCAU) Sees Ferrari Spinoff Valued At $11-B
 

Fiat Chrysler (NYSE:FCAU) Sees Ferrari Spinoff Valued At $11-B

Sergio Marchionne, CEO of Fiat Chrysler Automobiles NV (NYSE:FCAU), expects its Ferrari SpA Supercar maker unit to be valued “at least” at 10 billion euros ($11 billion) in an IPO (initial public offering) scheduled this year.

“There are clear expectations from ourselves as Ferrari brand is unique,” Mr. Marchionne said Friday at the presentation of the new subcompact Fiat 500 in Turin, Italy. “There is also a scarcity value as we are just selling a 10% stake.”

Fiat Chrysler announced plans last year to sell 10% of Ferrari and distribute its remaining 80% stake to Fiat Chrysler investors. Piero Ferrari, the son of founder Enzo Ferrari, also owns 10% and plans to keep his holding. Getting the most out of the listing is Key for Mr. Marchionne’s plans to fund a EUR 48-B investment plan aimed at lifting Fiat Chrysler deliveries to 7-M cars by Y 2018.

 Fiat Chrysler shares have risen about 33 percent this year, boosting its market capitalization to EUR 16.6-B. Valued at EUR10-B, Ferrari would represent about 60% of the value of the Fiat group.

Ferrari plans to on the New York Stock Exchange as a Dutch holding with its fiscal residence in the UK, Mr. Marchionne said Friday. This would mirror the multi-national structure used for parent Fiat Chrysler..

Mr. Marchionne said that Ferrari could be listed in New York  on 13 October after the IPO was delayed for a tax issue.

Symbol Last Trade Date Change Open High Low Volume
NYSE:FCAU 14.29  2 July 2015 -0.34 14.48 14.5 14.14 4,272,600
HeffX-LTN Analysis for FCAU: Overall Short Intermediate Long
Neutral (-0.22) Bearish (-0.25) Bearish (-0.29) Neutral (-0.12)
Recent CandleStick Analysis
Very Bullish
Date Candle
  1 July 2015 Homing Pigeon
30 June 2015 Homing Pigeon
26 June 2015 Homing Pigeon

Open Gaps: down, 2 July 2015 at 14.54 to 14.5, down 29 June 2015 at 15.57 to 14.9

Untitled fcau

 

Support and Resistance
Type Value Conf.
resist. 17.06 2
resist. 16.86 2
resist. 16.61 6
resist. 16.31 2
resist. 15.79 18
resist. 15.19 14
resist. 14.89 2
resist. 14.68 2
resist. 14.52 2
resist. 14.31 3
supp 13.57 3
supp 13.23 2
supp 12.80 2
supp 12.44 2
HeffX-LTN Chart Indicators
Ind. Short Inter Long
EMA VBe VBe VBe
MACD N Be N
RSI Be
TDD Be
Fibs Be Bu Be
Highs VBe VBe Bu
Lows Be Bu Bu
Trends N N N
Stoch. VBe
VBu=Very Bullish,    Bu=Bullish
N=Neutral
Be=Bearish,    VBe=Very Bearish

Have a terrific weekend.

HeffX-LTN

Paul Ebeling

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Paul Ebeling

Pattern Recognition Analyst, equities, commodities, forex
Paul Ebeling is best known for his work as writer and publisher of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly-regarded, weekly financial market letter, where he enjoys an international audience among opinion makers, business leaders, and respected organizations. Something of a pioneer in online stock market and commodities discussion and analysis, Ebeling has been online since 1994. He has studied and worked in the global financial and stock markets since 1984.

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