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Fiat Chrysler to list 750M shares on NYSE, possibly as soon as Aug. 2

  • Fiat Chrysler (FIATY) plans to list ~750M shares at $5.03 each on the NYSE later this year, and could start trading as soon as Aug. 2, pending shareholder approval in August of a proposed merger of the two auto makers, according to a new SEC filing.
  • The merger plan must win Fiat shareholder approval at a special meeting scheduled for Aug. 1.
  • A "loyalty voting structure" will allow shareholders who hold their stake for three years to have two votes for each share they own, a move that favors the Agnelli family, which has controlled Fiat since its founding and still owns 30% of the company.
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Comments (4)
  • geekinasuit
    , contributor
    Comments (1308) | Send Message
     
    Anyone have predictions on what the NYSE listing will do to the stock price? Seems to me it will have more to do with FCA showing some signs that the 5 yr plan is working than anything.
    4 Jul 2014, 12:21 AM Reply Like
  • atty1952
    , contributor
    Comments (3) | Send Message
     
    what will this do to my existing Fiat stock
    8 Jul 2014, 04:42 PM Reply Like
  • atty1952
    , contributor
    Comments (3) | Send Message
     
    how will this affect my existing Fiat stock?
    8 Jul 2014, 04:42 PM Reply Like
  • geekinasuit
    , contributor
    Comments (1308) | Send Message
     
    http://bit.ly/1lS0IGX
    "Under the merger plan, Fiat shareholders will receive one FCA common share for each Fiat ordinary share they hold. The FCA common shares will be listed on the New York Stock Exchange (NYSE) and are expected to be listed on the Mercato Telematico Azionario (MTA) in Milan."

     

    If I understand it right, each existing share in Fiat is converted to one FCA share, so you'll end up with the same number of shares as before. Your newly minted FCA shares will then be listed on the NYSE where the value per share will ultimately be determined.
    8 Jul 2014, 05:53 PM Reply Like
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