Bluefield Partners urges calm among investors in the face of a lack of developments or confirmation of a date for the highly-anticipated Ferrari IPO.
Bluefield Partners says that despite an apparent dearth of information about a firm date for the high-anticipated Ferrari IPO, it remains convinced that it will secure a sizeable enough allocation of shares to offer to clients.
“We’ve been inundated with calls and enquiries; some prospective new clients have even sent us large sums of money hoping they’ll be regarded as deposits or down payments on the stock but we’ve had little recourse but to send their money back advising them to wait for a formal announcement from Fiat Chrysler Automotive (FCA) on a date for the IPO,” said Naveen Chawla,” the CIO at Bluefield Partners.
Much fanfare greeted FCA’s Chief Executive, Sergio Marchionne’s, announcement of an impending IPO when it was made towards the end of last year but, other than a few statements on the potential for offering the public a stake in Ferrari larger than 10% , very little information has been forthcoming.
An announcement on the banks who will be appointed to handle the IPO is still “some way off” according to sources at FCA who asked not to be named as discussions are private but Bluefield Partners says it is convinced that both Goldman Sachs and Morgan Stanley are front-runners.
“If Mr. Marchionne is to make good on his initial June/July deadline for the IPO, then the negotiations need to get a move on,” said Chawla before adding, “but it’s not as if the IPO’s going to be a tough sell. We’re not even primary dealers but the interest from existing and prospective new clients has been off the charts.”
About Bluefield Partners:
Bluefield Partners was established in 2005. We are headquartered in Shenzhen, China with presence in Beijing, Shanghai and Hong Kong.
Bluefield Partners functions as a privately held Investment Counseling and Advisory firm. We render investment and advisory services for individuals, trusts and charities who want their wealth managed professionally. Portfolios are tailored for each client on an individual basis. We are committed to enhancing your wealth and protecting your future.
Contact Bluefield Partners:
6401/6405 KK100 Building 5016
5016 Shennan E Rd