Exorthe holding company of the family Agnelli-Elkannhas decided to move the listing of ordinary shares from Milan to the Amsterdam Stock Exchange, in the Netherlands, where the company is already based. The group, which holds stakes in some major automotive groups or brands such as Stellantis, Ferrari, Iveco and CNH Industrialsubstantially abandons Piazza Affari.
The Board of Directors of Exor thus approved the transfer of the listing of the company’s ordinary shares to Euronext Amsterdam. As explained in a note published by the holding, the transfer will make it possible to align the company’s stock exchange with its legal structure on Dutch soil. The organizational structure of Exor should be further simplifiedas the company will be supervised by only one national regulator, namely the Dutch Authority for Financial Markets (Afm).
The transfer will in any case be subject to the approval of the listing prospectus by the AFM and the admission to listing and trading of the securities by Euronext Amsterdam, which are expected to be smoothly. Exor expects listing on the Amsterdam Stock Exchange to begin in mid-August. Once admission to listing and trading of the securities on Euronext Amsterdam has been obtained, the company will request the delisting of its ordinary shares from Euronext Milan. This operation will take place no earlier than 45 days, in accordance with the Borsa Italiana regulations.
During the delisting process, Exor’s ordinary shares will continue to be listed on Euronext Milan as well as Euronext Amsterdam. Furthermore, Exor announces its intention to continue the execution of its ordinary share buyback program already announced on March 8, 2022, with a second tranche for an amount of up to 250 million euros to be executed on Euronext Amsterdam and Euronext Milan .
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