PF Holdings B.V. announced on 16 September 2026 a voluntary full tender offer for the Pininfarina shares it did not already own, at €1.00 per share, with the stated objective of delisting the company from Euronext Milan.
Announced terms
The offer covers up to 16,660,587 shares, equal to 21.177% of share capital. PF Holdings held 78.823% at announcement. The theoretical maximum cash outlay is approximately €16.66 million.
The €1.00 price represented a 20% premium to the official price on 15 September 2026. The bidder stated that it does not intend to restore a sufficient free float if the relevant delisting threshold is exceeded through acceptances and/or purchases outside the offer.
Subsequent market purchase
On 17 September PF Holdings bought 1,070,163 Pininfarina shares on Euronext Milan at a weighted average price of €1.00, increasing its holding to 80.183%. Those market purchases are separate from shares tendered into the offer.
The company
Pininfarina S.p.A. provides vehicle design and engineering services. Ticker PINF, ISIN IT0003056386.
Market data
At the 18 September verification, the latest official delayed trade was €1.00 at 13:55:09, unchanged. Open/pre-open €1.00, low €1.00, high €1.005, volume 287,529 shares, 65 trades and turnover €377,560. These were intraday figures.