Bluefield Partners: FCA Could Sell Larger Ferrari Stake

Top Quote Bluefield Partners says it hopes suggestions that Fiat Chrysler could sell more than the originally planned 10% stake in Ferrari are true. End Quote
  • (1888PressRelease) May 09, 2015 - Bluefield Partners says appetite among its clients for a chance to acquire stock in the forthcoming Ferrari IPO has reached fever pitch. Fiat Chrysler which owns a majority stake in the Italian luxury sportscar maker announced in October 2014 that it would sell a 10% stake by the end of June 2015 as part of its efforts to fund a 48 billion, 5-year corporate plan.

    Such is the appetite among investors for what is seen as a chance to own a piece of one of the world's most evocative automotive brands that Fiat Chrysler CEO, Sergio Marchionne was moved to tell reporters that the company [Fiat Chrysler]might have to increase the stake it sells if there is insufficient stock to meet demand.

    "This will definitely be among the most over-subscribed IPOs; right up there with Alibaba's last year," said Naveen Chawla, who helps manage $2 billion in client funds at Shanghai, China-based Bluefield Partners.

    Ferrari will be listed on the New York Stock Exchange with, perhaps, a secondary listing in Europe, most likely Milan but, as yet, Fiat Chrysler has not decided which banks/broker dealers are to underwrite the deal.

    "Obviously, a deal this size and this high profile will inevitably go to the likes of Goldman Sachs, Morgan Stanley and/or the other Wall Street heavyweights but our relationships with many of these big-hitters will inevitably see us offered an allocation which we'll hold for our clients," explained Chawla.

    Bluefield Partners says it will notify clients individually of the availability and price for the Ferrari stock but warns that it will likely be unable to guarantee minimum allocations owing to the uncertainty over how much of its stake Fiat Chrysler intends to sell.

    About Bluefield Partners:
    Bluefield Partners was established in 2005. We are headquartered in Shenzhen, China with presence in Beijing, Shanghai and Hong Kong.

    Bluefield Partners functions as a privately held Investment Counseling and Advisory firm. We render investment and advisory services for individuals, trusts and charities who want their wealth managed professionally. Portfolios are tailored for each client on an individual basis. We are committed to enhancing your wealth and protecting your future.

    Contact :
    6401/6405 KK100 Building 5016
    5016 Shennan E Rd
    Luohu, Shenzhen
    Guangdong, China

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