Ferrari Spends €177M on Milan, $46M on NYSE Buybacks, Treasury at 8.96%
From March 23 to 27, Ferrari repurchased 600,493 shares on Euronext Milan for €177 million and 137,107 NYSE shares for $46 million under the €250 million tranche of the €3.5B buyback program. As of March 27, Ferrari held 17.38 million treasury shares, or 8.96% of its outstanding common stock.
1. First Tranche Purchases
From March 23 to 27, Ferrari repurchased a total of 737,600 own shares under the first €250 million tranche. This includes 600,493 shares on Euronext Milan for €177 million and 137,107 shares on the NYSE for $46 million.
2. Buyback Program Progress
Since the buyback program began on January 5, Ferrari has acquired 737,600 common shares for €217.2 million as part of its planned €3.5 billion multi-year program extending through 2030.
3. Treasury Holdings
As of March 27, Ferrari held 17,382,206 treasury shares, equivalent to 8.96% of its issued common stock. Including special voting shares, its total treasury stake represents 9.36% of the company’s issued share capital.