Maranello, Italy - Ferrari N.V. (NYSE/EXM: RACE), commonly referred to as Ferrari, recently unveiled its plans to offer notes that are not intended for distribution within the United States. The company aims to expand its global reach and further diversify its investor base with this strategic move. Additionally, Ferrari has made consistent progress in executing its multi-year share buyback program, which was announced during its 2022 Capital Markets Day.
The luxury car manufacturer confirmed its intention to Issue Notes Not for Distribution in the United States, its territories and possessions, any state of the United States, or the District of Columbia or to any U.S. person. This offering highlights Ferrari’s commitment to tapping into international markets beyond its traditional stronghold. By excluding the United States, the company aims to explore new avenues for growth and capitalize on the increasing demand for its high-performance vehicles worldwide.
Moreover, Ferrari has consistently demonstrated its shareholder-friendly approach through its ongoing share buyback program. As part of the recently completed Fourth Tranche, which forms part of a larger Euro 2 billion share buyback program, the company has acquired an aggregate amount of common shares on the Euronext Milan (EXM). This initiative not only reflects Ferrari’s confidence in its financial strength but also underscores its commitment to creating long-term value for its shareholders.
With the launch of the Fourth Tranche, Ferrari has reaffirmed its to execute the multi-year share buyback program, which is expected to be completed by 2026. By repurchasing its own shares, the company aims to enhance shareholder returns, showcase its belief in its current and future prospects, and optimize its capital structure.
Ferrari’s ongoing dedication to increasing shareholder value, expanding its global footprint, and solidifying its brand as an icon of luxury and performance continues to inspire confidence in investors worldwide. The company’s strategic initiatives, such as the offering of notes outside the United States and the successful execution of its share buyback program, further underline its commitment to long-term growth and success.
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