initial public offerings (IPOs) trading on American exchanges

Monday, September 1, 2014

Fiat-Chrysler sees U.S. listing on Oct. 13, 2014

Fiat-Chrysler plans to list shares in the recently-merged automaker in New York on Oct. 13, Chief Executive Sergio Marchionne said Saturday, according to news reports. "The most likely date for the listing in the U.S. is Oct. 13," he said on the sidelines of a meeting in Rimini, Italy, Reuters reported. The merger between Fiat and the Chrysler unit cleared its final hurdle on Friday.

Marchionne added that any decision on capital increases for the group would be made by the end of October.

His rescue plan for the two icons involves investing 44 billion euros over five years.

Fiat and Chrysler Group CEO Sergio Marchionne

He says the US listing is one way of paying for a relaunch of the Alfa Romeo and Maserati brands, the export of Jeeps globally, and competing in the fast-growing Asian markets, where the group is currently weak.

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