Ferrari Spends €168M to Repurchase 571,660 Shares in Second Tranche
RACE•Between June 22 and 26, Ferrari repurchased 571,660 shares under the €250 million second tranche of its €3.5 billion buyback program, spending €137.9 million on Euronext Milan and $35.0 million on the NYSE. Since January 5, the company has acquired 1,457,105 shares for €428.8 million, holding 17,991,331 shares (9.28% of issued common shares).
1. Second Tranche Purchases
Between June 22 and June 26, Ferrari repurchased 468,979 shares on Euronext Milan for €137,925,977.76 and 102,681 shares on the NYSE for $34,998,176.45, totaling 571,660 shares under the €250 million second tranche of its multi-year buyback program at an average price of approximately €305 per share.
2. Program-to-Date Totals and Treasury Holdings
Since the January 5 launch of the €3.5 billion buyback program, Ferrari has acquired 1,457,105 common shares for a total consideration of €428,838,218.38. As of June 26, the company holds 17,991,331 treasury shares, representing 9.28% of issued common shares (9.59% including special voting shares), with share cancellation approved on April 15 yet to be executed.
