China's Silk Road to Sell Its Full Stake in Tiremaker Pirelli [BNN Bloomberg (Canada)]
Ferrari N.V. Common Shares (RACE)
Last ferrari n.v. common shares earnings: 2/4 05:58 am
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Source: BNN Bloomberg
Silk Road said Wednesday it will sell its 9% holding through an offering of 90 million shares with price guidance of €5.69 per share, according to deal terms. That pricing represents an 8.08% discount to Pirelli's last close. Chinese conglomerate Sinochem Holdings Corp is still Pirelli's largest investor with a stake of around 37%. Sinochem has also explored a stake sale, Bloomberg reported last year. Read More: Pirelli's Chinese Owner Said to Weigh Tiremaker Stake Sale Italy has been trying to limit China's influence over its strategic assets. Last year, the government led by Prime Minister Giorgia Meloni used its “golden power” rights to impose restrictions on Sinochem's access to information from sensors in Pirelli's tires, deeming the data strategically important. Led by Chief Executive Officer Marco Tronchetti Provera, Pirelli makes tires for high-end automotive brands including Ferrari NV, McLaren Automotive Ltd. and Bentley Motors Ltd. The CEO is the firm's second-larg
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RACE
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- 5/7/24 - Miss
RACE
Sec Filings
- 6/17/24 - Form 6-K
- 6/10/24 - Form 6-K
- 6/4/24 - Form 6-K
- RACE's page on the SEC website