Over the years, a number of Italian companies have chosen to list overseas, particularly in Amsterdam and Wall Street. These are a dozen groups with collective capitalizations of 70 billion euros, compared to 915 billion in Piazza Affari, making them worth almost 8% of the Milan stock exchange. Among the stocks traded abroad are Exor—the Agnelli family’s holding company, which owns stakes in Stellantis, Ferrari, Iveco, CNH Industrial, Juventus, and the publishing group Gedi—alone worth around 20 billion euros in market cap. Similarly, Prada has opted for Hong Kong as its primary listing. Several times in the past, speculations of a secondary listing in Milan surfaced, but were not pursued. In general, there are a dozen groups that have primarily selected markets where they are confident in their ability to raise a greater amount of capital than in Italy, either because their operations are international, their brand recognition is stronger abroad, or due to tax advantages.