Ferrari files to launch IPO on Wall Street

AFP, MILAN: The maker of Italy’s iconic Ferrari sports car officially filed with US regulators yesterday, as its plans to launch an initial public offering on Wall Street, parent company Fiat Chrysler Automobiles said yesterday.
FCA announced in October that it would spin off its famed sports cars and seek an IPO. Now Ferrari intends “to be listed on the New York Stock Exchange,” FCA said in a statement. Its filing with the US Securities and Exchange Commission (SEC) did not specify the share price range nor the number of shares to be offered, but FCA said it was “not expected to exceed 10 per centof all ordinary shares.”
Fiat Chrysler has said it sees the supercar unit valued at more than $11 billion and plans to complete the separation in early 2016, according to Bloomberg News.
The auto group had previously said that it wanted to list Ferrari both on the US stock market and an unspecified European market.
Since the decision to spin off from FCA, Ferrari has been transformed into a new company, New Business Netherlands NV, which will ultimately be renamed as Ferrari NV, the group said.

Ferrari files to launch IPO on Wall Street

AFP, MILAN: The maker of Italys iconic Ferrari sports car officially filed with US regulators yesterday, as its plans to launch an initial public offering on Wall Street, parent company Fiat Chrysler Automobiles said yesterday. FCA announced in October that it would spin off its famed sports cars and seek an IPO. Now Ferrari intends to be listed on the New York Stock Exchange, FCA said in a statement. Its filing with the US Securities and Exchange Commission (SEC) did not specify the share price range nor the number of shares to be offered, but FCA said it was not expected to exceed 10 per centof all ordinary shares. Fiat Chrysler has said it sees the supercar unit valued at more than $11 billion and plans to complete the separation in early 2016, according to Bloomberg News. The auto group had previously said that it wanted to list Ferrari both on the US stock market and an unspecified European market. Since the decision to spin off from FCA, Ferrari has been transformed into a new company, New Business Netherlands NV, which will ultimately be renamed as Ferrari NV, the group said.