Thursday, Oct 23, 2014Thursday, Oct 23, 2014
Business
 

Fiat-Chrysler sees New York stock market listing on Oct 13

Published on Aug 30, 2014 9:43 PM
 
Fiat Chrysler Automobiles (FCA) Group chief executive officer Sergio Marchionne attends a press conference at the end of Fiat's last shareholders general assembly at Lingotto in Turin, on Aug 1, 2014. -- PHOTO: AFP

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.

 
If you are not a subscriber, you can get instant, unlimited access here

Videos