Sergio Marchionne, the busy chief executive officer of the newly merged Fiat Chrysler Automobiles, said that the company has no plans to embark into the usual investor road show ahead of a planned New York Stock Exchange listing next month.
Fiat SpA and Chrysler Group LLC have finally cleared the last hurdles standing in front of their much-awaited unification under one corporate entity – Fiat Chrysler Automobiles. A truly global behemoth, FCA will have a Dutch registration base, world headquarters in London and a main share listing in New York (the secondary one remains in Milan, Italy). Recently, Marchionne has also taken the reigns at Fiat SpA’s most valuable asset – Ferrari – after ousting long standing Chairman Luca di Montezemolo.
“We’re just going to float on the 13th and then start the process of educating the financial markets after October,” Marchionne told reporters yesterday in New York.
The creation of Fiat Chrysler Automobiles from Fiat SpA and wholly-owned subsidiary Chrysler Group LLC has led to the creation of the world’s seventh-biggest automaker, and Marchionne intends to fully compete with the Toyota-Volkswagen-General Motors reigning trio within a few years.
The company intends to trade the shares of Fiat Chrysler Automobiles NV starting with October 13.