Stellantis (PSA and Fiat-Chrysler) has risen sharply for its first listing

PARIS, Jan 18 (Reuters) – Shares in Stellantis, the new group created by PSA and Fiat-Chrysler, opened the fastest on Monday on the Paris Stock Exchange for its first day of trading.

At 9:17 am, the car maker’s shares rose by 2.78% to 12.92 euros, indicating a market capitalization of 40 billion euros.

The action listed in Milan gained 3.02% to 12.95 euros.

PSA and Fiat Chrysler concluded on Saturday the merger process announced more than a year ago with the official birth of Stellantis, the fourth largest car group in the world whose financial health will help it to face the challenge of electricity and to its main competitors in the leading group . , Toyota and Volkswagen.

The two groups managed to complete their $52 billion (about 43 billion euros) wedding launched in October 2019 in less time than expected, even though the coronavirus crisis weakened the global economy in 2020. (Blandine Hénault, edited by Jean-Michel Bélot)

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