Ferrari N.V. Updates on Share Buyback Program Activities
![Ferrari N.V. Updates on Share Buyback Program Activities](https://investorshangout.com/images/blog/ihnews-Ferrari%20N.V.%20Updates%20on%20Share%20Buyback%20Program%20Activities.jpg)
Ferrari N.V. Updates on Share Buyback Program
Marinello (Italy) – Ferrari N.V. (NYSE/EXM: RACE), known for its luxury performance vehicles, is excited to share developments regarding its Euro 250 million share buyback program, part of a larger effort that encompasses approximately Euro 2 billion anticipated to be executed by 2026. This initiative was articulated during the 2022 Capital Markets Day and spans several tranches, with the latest constituting the Fifth Tranche.
Details of the Fifth Tranche Purchases
Under this Fifth Tranche, Ferrari has made notable investments in common shares purchased both on the Euronext Milan (EXM) and the New York Stock Exchange (NYSE). The daily transactions have been meticulously reported, allowing for transparency and accountability in the buyback's execution.
Key Statistics
As of August 30, 2024, Ferrari reported the following figures from this tranche:
- Purchased 28,700 common shares at an average price of €437.3247, totaling an investment of €12,551,220.16.
- On the NYSE, 4,916 shares were purchased at an average price of $488.0668, totaling $2,399,336.34.
This comprehensive data illustrates the firm's commitment to enhancing shareholder value and maintaining a robust capital structure.
Total Share Buyback Program Overview
Since the initiation of this ambitious multi-year share buyback program on July 1, 2022, Ferrari has acquired a total of 3,534,255 shares from the EXM and NYSE combined. The total consideration for these transactions has reached approximately Euro 999,193,901.46, reflecting the company's proactive strategy to return value to its investors.
Performance Highlights
As of the end of August 2024, the company held a treasury of 14,358,359 common shares, which represents about 5.59% of its total issued share capital. This reflects a well-calibrated approach to share management amidst strategic financial planning.
Future Expectations and Strategic Direction
Ferrari is keen on continuing this momentum as it looks ahead to further optimizing its capital deployment. The company's commitment to its buyback program underscores its determination to enhance value for shareholders, adapting to market conditions while focusing on sustainable growth.
Accessing Detailed Information
Ferrari has made available a full overview of the buyback activities on its corporate website, specifically in the Buyback Programs section. This resource allows stakeholders to access detailed information regarding specific transactions and the strategic framework guiding these activities.
Frequently Asked Questions
What is the purpose of the share buyback program?
The share buyback program aims to enhance shareholder value and optimize the company’s capital structure by reducing the number of shares outstanding.
How much does Ferrari plan to invest in the buyback program?
Ferrari has allocated approximately Euro 2 billion for the multi-year buyback program, with Euro 250 million designated for the latest tranche.
What have been the recent purchase statistics?
As of August 30, 2024, Ferrari purchased a total of 28,700 shares under the latest tranche, investing Euro 12,551,220.16 in the process.
What percentage of total shares does Ferrari hold in treasury?
Ferrari currently holds 14,358,359 common shares in treasury, making up about 5.59% of the overall issued share capital.
Where can detailed transaction information be found?
Comprehensive details on the buyback program are available on Ferrari’s corporate website, particularly in the Buyback Programs section.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Automotive Ambient Lighting Market on Track for USD 12.5B
- Liver Fibrosis Market Forecast: Growth to $43.98 Billion
- Parental Control Software Market Reaches New Heights
- Luxspin Launches Program to Empower Web3 Innovators
- Why Investing in Chevron (NYSE: CVX) Makes Sense Now
- Nvidia's AI Market Influence and Amazon's Strategic Warning
- Flamanville EPR Reactor Divergence Operations Update
- EDF Projects Increased Nuclear Power Generation for 2024
- Elon Musk Compares Government to DMV: Key Insights and Reactions
- Global Air Freight Market Growth Predicted to Reach $194.04 Billion
- Unlocking Million-Dollar Retirement with ETFs
- Explore Vanguard Information Technology ETF Benefits
- The Isopropanol Market is Projected to Hit $6.95 Billion
- Isopropanol Market Expected to Reach US$ 6.95 Billion
- ATV and SxS Market Expected to Reach $29.50 Billion
- Banijay Group Weekly Share Transactions Insights
- Scatec ASA Insider Transaction Notification
- Growth of Convex Ostomy Care Bag Market Insights
- Fnac Darty Share and Voting Rights Update
- Voltalia Secures Contract for New Solar Power Plant
- Management Trading Insights: Understanding Company Actions
- Alliance Trust PLC Announces Share Purchase Update
- Hewlett Packard's Ongoing Pursuit of Late Executive's Estate
- Exosens Enhances Portfolio with LR Tech Acquisition
- Haffner Energy Partners with IðunnH2 for e-SAF Innovation
Recent Articles
- Nyxoah Celebrates Nasdaq Closing Bell and U.S. Launch Plans
- Shaquille O’Neal’s Smart Investment Strategy Revealed
- Challenges Ahead for Intel: Stock Performance Under Scrutiny
- Scatec ASA Insider Transaction Notification
- Fnac Darty Share and Voting Rights Update
- Exploring Safe Dividend Stocks for Sustainable Income
- Understanding the Impact of Emerging Markets Decline
- Smart Home Market Expected to Hit USD 1048.72 Billion
- Kroma Achieves Series A Funding to Enhance Blockchain Solutions
- Understanding Section 199A Dividends for Investors
- Impact of Real Estate Market Assessments on Risk Assets
- Fortinet's Impressive Growth and Future Potential
- Exploring the Future of the Beverage Fridge Market
- Voting Rights Overview for ICG Enterprise Trust
- Exploring Top Bank Stocks: TD Bank and Berkshire Hathaway Insights
- Top Stocks to Consider from Billionaire Investors
- Analyzing Upcoming US Jobs Report and Federal Reserve Implications
- Public Acquires Carta's Brokerage Business for Growth
- Sinochem Explores Sale of U.S. Shale Stake Amid Market Shifts
- Institutional Adoption of Digital Assets Surges Ahead
- US Dollar and Japanese Yen: Weekly Market Analysis
- Challenges Facing Super Micro Computer Stock
- Biodexa Pharmaceuticals Faces Nasdaq Delisting
- Aptose Secures $10 Million to Advance Tuspetinib Development
- Shaquille O'Neal's Financial Lesson on Investing