Ducati Motor Holding S.P.A. - Specimen Stock Certificate

Specimen Stock printed by American Bank Note Company. Ducati is an Italian motorcycle manufacturer based in Bologna, Italy. The company is a subsidiary of Lamborghini, which is an Italian automotive manufacturer, and Lamborghini is owned by the German company Audi, a part of the Volkswagen Group. In 1926, Antonio Cavalieri Ducati, along with his three sons—Adriano, Marcello, and Bruno—established Società Scientifica Radiobrevetti Ducati (SSR Ducati) in Bologna, initially focusing on the production of vacuum tubes, condensers, and various radio components.

By 1935, their success allowed them to construct a new factory in the Borgo Panigale district of the city. Despite the challenges posed by World War II, including repeated bombings by Allied forces, production continued at the Ducati factory. However, on October 12, 1944, the factory was ultimately destroyed by approximately 40 Consolidated B-24 Liberators during the United States Army Air Forces's Operation Pancake, which involved around 700 aircraft operating from airfields in the Province of Foggia. Nevertheless, production persisted. Concurrently, at the small Turinese company SIATA (Società Italiana per Applicazioni Tecniche Auto-Aviatorie), Aldo Farinelli was working on a small pushrod engine designed for bicycles. Shortly after Italy's liberation in 1944, SIATA announced its plan to market this engine, named "Cucciolo" (meaning "puppy" in Italian, a nod to its unique exhaust sound). Initially, the Cucciolos were sold separately for buyers to install on standard bicycles; however, they soon attracted the attention of entrepreneurs who purchased them in bulk to create complete motorized bicycle units. By 1950, after selling over 200,000 Cucciolos, Ducati, in collaboration with SIATA, introduced its own motorcycle based on the Cucciolo engine.