Mexican Media Brands
No Ferrari IPO Until at Least Mid-October
Tax issues have delayed plans for an initial public offering of shares in Fiat Chrysler Automobiles NV's Ferrari unit for another five months.
#economics
Share
Tax issues have delayed plans for an initial public offering of shares in Fiat Chrysler Automobiles NV's Ferrari unit for another five months.
FCA CEO Sergio Marchionne tells reporters that tax rules prohibit a new listing for Ferrari for at least one year after FCA itself became listed on the New York Stock Exchange on Oct. 13, 2014.
The company announced shortly thereafter a plan to list 10% of Ferrari as shares for public purchase and distribute 90% to FCA's own shareholders. The IPO had been expected to launch in the first half of 2015.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.