Another piece of the Agnelli galaxy leaves Piazza Affari. Cnh Industrial, the agricultural machinery company of the sphere Exor announced today that it has completed the voluntary withdrawal of its shares from Euronext Milano: Cnh securities are now listed exclusively at the Nyse of Wall Street, the New York Stock Exchange.

The decision to leave Piazza Affari by Cnh (of which Exor, holding of Agnelli-Elkann, is majority shareholder as well as of Juventus, Ferrari and Stellantis) was announced on 2 February 2023 and was taken, underlines the official statement issued today by the company, "following a careful analysis of the trading volumes related to the two exchanges, as well as the costs and administrative resources needed to maintain the listing on Euronext Milano". 

Most of the trades of the Cnh stock, adds the note, has progressively moved on the Nyse, indicating that the company’s business profile and investor base are better suited to a single listing in the United States. The concentration of trading in a single market should allow for greater liquidity and investor focus, while simplifying the business profile and compliance requirements.

"The unique listing on the Nyse is the last step of our simplification journey, accelerated in 2022 when we became a company of machines for agriculture and construction -explains Scott W. Wine, ceo of CNH-. Considering this delisting and the other initiatives taken in the last two years, Cnh is basically a different company, more focused on the customer, more efficient and more profitable. With these renewed bases, we are excited about our future".

The statement concludes with thanks from the board of directors of Cnh and its senior leadership team to Euronext Milano "for having been our secondary listing location for more than 10 years".