Exor, the holding company of Italy's Agnelli family, said on Thursday that it has raised about 3 billion euros after selling an approximately 4% stake in Ferrari to international investors.
    The company announced the "successful pricing of the previously announced accelerated bookbuild offering involving the sale of approximately 7 million common shares of Ferrari" in a statement.
    "Following completion of the transaction, Exor will remain Ferrari's single largest shareholder with approximately 20% of the economic rights and 30% of the voting rights in Ferrari's share capital and remains fully committed as a long-term shareholder of Ferrari.
    "Moreover, in the context of the transaction, Exor has entered into a 360-day lock-up commitment, with respect to its remaining common shares of Ferrari.
    "The Offering is expected to settle on 3 March 2025", said the statement.
    "Goldman Sachs Bank Europe and J.P.

Morgan are acting as joint global coordinators and joint bookrunners (the "Joint Global Coordinators") and BNP Paribas, IMI - Intesa Sanpaolo, Société Générale CIB and UniCredit are acting as joint bookrunners (the "Joint Bookrunners") for the Offering", concluded the note.
    Ferrari shares dropped by 7% in early trading on Thursday to 449 euros.

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