Ferrari is one of the most storied sports car makers on the planet with its exotic sports cars being lusted after by car fans all around the world. Ferrari also has a storied racing history in F1 and many other racing series. Fiat Chrysler Automobiles filled for a Ferrari IPO this month in a move that will take the Italian carmaker public for the first time in its history.
The Ferrari division will see its name change to Ferrari N.V. and its stock will be listed on the New York Stock Exchange. Fiat Chrysler Automobiles has owned 90% of Ferrari since 1988. With the filings, Ferrari N.V. will become a separate and publically owned company. It’s unclear right now how many shares will be offered for purchase or how much those shares will sell for.
Statements by FCA CEO Sergio Marchionne in the past have noted that only 10% of the shares will be offered to the public. Stock in Ferrari could be as rare as its automobiles are on the roads. 80% of total share in Ferrari N.V. will be distributed to shareholders with the last 10% remaining with Piero Ferrari, son of Ferrari founder Enzo Ferrari.
via MotortrendFiled Under: Auto News