MILAN (Reuters) – Shares of Stellantis rose on their first day of trading on Monday after the world’s fourth largest automaker was created on Saturday with the completion of the $ 52 billion merger between Fiat Chrysler and the manufacturer of Peugeot PSA.
“We have the size, resources, diversity and know-how to successfully seize the opportunities of this new era in the transport sector,” said President John Elkann in a video on the Borsa Italiana website.
Milan-listed shares of Stellantis started trading at € 12.758 and at 0855 GMT was up 4.9% to € 13.19. Shares listed in Paris traded around the same level.
This compares with the closing of Fiat Chrysler (FCA) on Friday at 12.57 euros.
Over the weekend, PSA shares were exchanged for new FCA shares. All FCA shares were then renamed Stellantis.
The title will debut in New York on Tuesday.
Reporting by Giulio Piovaccari. Editing by Giulia Segreti and Mark Potter