Pirelli & C PIRC.MI

Italian tyre manufacturer, Pirelli & C. is one of the oldest listed companies on the Milan Stock Exchange. It is the fifth largest producer of tyres in the world, behind established names such as Michelin and Goodyear. Pirelli, PIRC.MI stock ticker, was founded in Milan in 1872, with the company’s contemporary headquarters located in the same city. Pirelli & C. is currently under a temporary privatisation period, meaning it is under private control that is limited by specific government regulations and for a specific length of time. Currently, the controlling entity is ChemChina.

ChemChina’s controlling stake caused Pirelli & C. to be delisted. However, the company was made public once again, a mere two years later, on October 4, 2017. Some investors baulked at the €6.5 billion valuation, believing the amount to be inflated. The high price did not deter bullish investors, with the PIRC.MI stock value rising by about 10% in the first four months of trading.

One surprising, and mostly unknown, fact, is that Pirelli has often dabbled in industries unrelated to the automotive industry. The company has made forays into renewable energy and fashion, but has abandoned many of its diversification experiments, increasing emphasis on its primary business offerings of car and motorcycle tyres.

Trade Pirelli and thousands of other financial instruments on the eToro platform.