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Ferrari N.V. (NYSE/EXM: RACE) has announced the purchase of 22,000 common shares on Euronext Milan under its Euro 250 million buyback program launched on June 28, 2024. This program is part of a larger Euro 2 billion multi-year buyback plan set to run until 2026. From July 1 to July 3, 2024, Ferrari bought shares at an average price of €383.69, totaling €8,441,284.25. As of July 3, 2024, the company holds 14,187,666 common shares in treasury, equating to 5.52% of total issued share capital. Since the program’s inception on July 1, 2022, Ferrari has acquired 3,363,562 shares for €931,185,356.96. Detailed buyback information is available on Ferrari’s corporate website.
Maranello (Italy), July 4, 2024 – Ferrari N.V. (NYSE/EXM: RACE) (“Ferrari” or the “Company”) informs that the Company has purchased, under the Euro 250 million share buyback program announced on June 28, 2024, as the fifth tranche of the multi-year share buyback program of approximately Euro 2 billion expected to be executed by 2026 in line with the disclosure made during the 2022 Capital Markets Day (the “Fifth Tranche”), the common shares – reported in aggregate form, on a daily basis – on the Euronext Milan (EXM) as follows:
|
Trading |
Stock Exchange
|
Number of common shares purchased |
Average price per share |
Consideration excluding fees
|
| 01/07/2024 | EXM | 7,500 | 382.1511 | 2,866,133.25 |
| 02/07/2024 | EXM | 7,500 | 379.2466 | 2,844,349.50 |
| 03/07/2024 | EXM | 7,000 | 390.1145 | 2,730,801.50 |
| Total | – | 22,000 | 383.6947 | 8,441,284.25 |
Since the announcement of such Fifth Tranche till July 3, 2024, the total invested consideration has been Euro 8,441,284.25 for No. 22,000 common shares purchased on the EXM.
As of July 3, 2024, the Company held in treasury No. 14,187,666 common shares equal to 5.52% of the total issued share capital including the common shares and the special voting shares, net of shares assigned under the Company’s equity incentive plan.
Since the start of the multi-year share buyback program of approximately Euro 2 billion announced during the 2022 Capital Markets Day, on July 1, 2022, until July 3, 2024, the Company has purchased a total of 3,363,562 own common shares on EXM and NYSE, including transactions for Sell to Cover, for a total consideration of Euro 931,185,356.96.
A comprehensive overview of the transactions carried out under the buyback program, as well as the details of the above transactions, are available on Ferrari’s corporate website under the Buyback Programs section (https://www.ferrari.com/en-EN/corporate/buyback-programs).
FAQ
What is the recent share buyback activity of Ferrari (RACE) as of July 2024?
Ferrari purchased 22,000 common shares on Euronext Milan from July 1 to July 3, 2024, at an average price of €383.69 per share, totaling €8,441,284.25.
How much has Ferrari invested in the share buyback program since its announcement?
Since the announcement of the buyback program on July 1, 2022, Ferrari has invested €931,185,356.96 to purchase a total of 3,363,562 shares.
What is the duration and scope of Ferrari’s buyback program?
The buyback program spans multiple years with a total budget of approximately €2 billion, expected to run until 2026.
How many shares does Ferrari hold in treasury as of July 3, 2024?
As of July 3, 2024, Ferrari holds 14,187,666 common shares in treasury, which is 5.52% of the total issued share capital.
What was the average price per share in Ferrari’s recent buyback?
In the most recent buyback, Ferrari purchased shares at an average price of €383.69 per share.
Where can I find detailed information on Ferrari’s buyback programs?
Detailed information on Ferrari’s buyback programs is available on the company’s corporate website under the Buyback Programs section.
