I think is because some Funds sold shares, that they only bought to wait before the IPO of RACE
Sentiment: Strong Buy
188,921,500 RACE SHARES
1,287,276,952 FCAU SHARES
Math 188921500 * 80 % / 1287276952
RACE is oversubscribe 10X.
What do you think?
You hold RACE shares ?
You Hold FCAU shares ?
Or sell all ?
I Guess I will sell RACE shares at $65 and hold FCAU shares.
Ferrari have 189 million shares, FCA will to distribute 80% of the shares , imy math is for 1 FCAU you will receive 0.116 shares of RACE
Ferrary have a initial price of $11 billion but is oversubscribe 10X, the price can go UP 30% or more, you need to buy now to have Ferrary shares.
If Ferrary IPO, have a valuation of $11 Billion, all other brands, MASERATI, ALFA ROMEO, FIAT, DODGE, JEEP, RAM ,etc have only a $8 billion value, with a PE of 5