Fiat-Chrysler sees New York stock market listing on Oct 13
Published on Aug 30, 2014 9:43 PM
RIMINI, Italy (REUTERS) - Fiat-Chrysler aims to list shares in the newly merged carmaker in New York on Oct 13, chief executive Sergio Marchionne said on Saturday, adding that a decision on any capital increase would be made at the end of that month.
He was speaking a day after the merger between Fiat and its US unit Chrysler cleared its last remaining hurdle.
Fiat bought out Chrysler at the start of 2014 and both operate as one firm. Marchionne wants to incorporate the two into Dutch-registered entity Fiat Chrysler Automobiles (FCA), paving the way for the United States (US) listing he says is needed to help finance a 48-billion euro (S$79 billion) five-year growth plan.
"The most likely date for the listing in the US is October 13,” he told reporters on the sidelines of a meeting in Rimini.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here