Recent news brought to light the fact that the business magnate George Soros is one of Ferrari’s investors, a disclosure that made the price of the company’s shares go up.
At the beginning of the year, Ferrari debuted on the Italian Stock Exchange, a move that concluded a series of transactions intended to separate the Italian supercar maker from Fiat Chrysler Automobiles. The Milan debut happened about three months after the brand’s initial public offering and its listing on the New York Stock Exchange. Since then, Ferrari’s stock has lost almost a third of its value, as investors have been somehow doubtful about the maker’s prospects as an independent company. But recent news brought a more optimistic perception, after George Soros, one of the world’s most prominent business men, disclosed that his fund bought a stake in the newly liberated Prancing Horse marque. According to a US filing from this week, Soros Fund Management LLC owns 850,000 Ferrari shares, equivalent to 0.45 percent of the company, making Soros one of top 10 investors. The move was made at the end of last year, with a stake value of around 28 million euros (31.2 million dollars). In Milan trading, Ferrari rose 7.9 percent to 33.68 euros, the highest intraday price since February 8.
Ferrari is controlled by the Agnelli family and Piero Ferrari, the son of founder Enzo, together owning around 33 percent of the company and having almost 50 percent of the voting rights. Another big investor is Fiat Chrysler Chief Executive Officer, Sergio Marchionne, also chairman of Ferrari, with 1.46 million shares.