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MILAN, Jan 18 (Reuters) – Shares in Stellantis rose on their first trading day on Monday, following the formation of the world’s fourth-largest carmaker on Saturday with the completion of the $ 52 billion merger between Fiat Chrysler and individual -Peugeot PSA manufacturer.
“We have the scale, resources, diversity and approach to seize the opportunities of this new era in transport,” said Chairman John Elkann in a video on the Borsa Italiana website.
Shares of Stellantis in Milan started trading at 12.758 euros and at 0855 GMT they went up 4.9% at 13.19 euros. Shares registered in Paris traded around the same level.
That compares with Fiat Chrysler’s (FCA) closing Friday at 12.57 euros.
Over the weekend, PSA shares were introduced to new FCA shares. All FCA shares were renamed Stellantis.
The stock will start in New York on Tuesday. (Narrated by Giulio Piovaccari. Edited by Giulia Segreti and Mark Potter)