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Ferrari Files for IPO
Fiat Chrysler Automobile NV's Ferrari unit has filed to make an initial public offering on the New York Stock Exchange, Bloomberg News reports.
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Fiat Chrysler Automobile NV's Ferrari unit has filed to make an initial public offering on the New York Stock Exchange, Bloomberg News reports.
FCA values the supercar company at more than $11 billion (€10 billion). The IPO, which will involve 10% of Ferrari shares, is expected to launch late this year and be completed in early 2016.
Piero Ferrari, the son of founder Enzo Ferrari, intends to retain a 10% stake in the company. The remaining 80% of Ferrari shares will be distributed to FCA's own investors.
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