Stellantis shines, the spread remains cold
Stellantis debuts on the stock market, the stock flies to Piazza Affari
Weak bags Debut with a bang for Stellantis
Stellantis Board of Directors appointed: Elkann president, Tavares CEO
Stellantis, the merger between FCA and Groupe Psa completed.
Exor has 14.4% of the capital
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by Tiziana Di Giovannandrea
January 18, 2021 Stellantis was born from the merger between FCA and PSA.
At its debut in Piazza Affari, the new group is racing with flight: a giant with over 42 billion capitalization that closed the first session up by 7.57%.
Milan is also the main trading center.
This is where the largest number of exchanges on the stock were concentrated, with over 23 million and 700 thousand pieces changed hands and a closing at 13.52 euros per share.
In Paris, exchanges amounted to less than 8 million units on Euronext.
Official market entry with ceremony in Milan and Paris
The new company officially entered the market with a ceremony at the Milan and Paris stock exchanges.
President John Elkann and CEO Carlos Tavares rang the traditional bag-opening bell.
Tomorrow, Tuesday, January 19, the stock will go into listing also in New York, where today the market was closed for the holiday of Martin Luther King Day. A ceremony similar to that in Milan and Paris is also scheduled on Wall Street.
Ceo Tavares works on business plan
Carlos Tavares is working on Stellantis business plan which should be ready before the summer.
The new group will be based in the Netherlands and will have over 400,000 employees.
The new company will have the capacity to produce 8.7 million cars per year, behind only Volkswagen, Toyota and Renault-Nissan.
Debut on the New York Stock Exchange
The subsequent departure to Wall Street will allow President Elkann and CEO Tavares, at 3.40 pm Italian time, to ring the usual bell also in New York.
The first press conference with journalists for Tavares is scheduled to follow.
Elkann, Stellantis historic result
On the day of the celebrations, President John Elkann remarked how: "It is a new beginning for a great company that is taking its first steps for a truly historic result for all our collaborators", underlining the pride for coming to this moment.
For Elkann: "Stellantis represents an extraordinary opportunity in this new era that is so demanding and at the same time extremely stimulating and exciting, in which our sector is called to face profound changes. We are convinced that the next decade will lead to a redefinition of mobility such as the we know today and it is precisely for this reason that we created Stellantis ".
The company, Elkann added, "begins its journey today, already being one of the main players in the field of mobility: a group capable of boasting a rich industrial heritage, which has its roots in over 200 years of activity and which includes many most prestigious brands in our sector ".
Stellantis possesses "the size, resources, diversity and know-how necessary to successfully seize the opportunities offered by the new transport era. Our aspiration is to build something unique and great by offering our customers vehicles and services. for original, safe, practical, innovative and sustainable mobility ".
Tavares, focus from day one will be on value creation
Tavares, who will meet the Italian trade unions on Wednesday, satisfied that there is immediate availability for a discussion, focused on the birth of the group and on the support of shareholders, "who approved the merger with 99% of votes in favor ", and promised that the company and its managers are committed to exploiting the advantages of the marriage between FCA and PSA.
"The focus from day one will be on the creation of value", implementing the expected synergies and "increasing the competitiveness of the group".
Le Maire, absolutely formidable wedding
"Regarding Stellantis, I find things absolutely terrific".
The merger between PSA and FCA is "a chance, a great European success" said the French Minister of Economy, Bruno Le Maire, contacted by ANSA in Paris.