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Ferrari Files for IPO, Renamed Ferrari N.V.

Motor Trend logo Motor Trend 7/23/2015 Megan Stewart

Fiat Chrysler Automobiles filed paperwork with U.S. regulators today for an initial public offering for Ferrari. The division's name will be changed to Ferrari N.V., and it will be listed on the New York Stock Exchange.

2016 Ferrari 488 GTB© Provided by MotorTrend 2016 Ferrari 488 GTB

FCA has owned 90 percent of Ferrari since 1988, but these filings will turn the supercar division into a separate, publicly-owned company. FCA didn't specify the number of shares offered or the prices of those shares, but FCA CEO Sergio Marchionne has previously said that only 10 percent of shares will be offered to the public. Eighty percent of the total shares will be distributed to shareholders, and the last 10 percent will remain in the hands of Piero Ferrari, son of Enzo Ferrari. Previously, Marchionne said the IPO could be worth at least $11 billion.

Ferrari heading to the stock exchange is likely the most high-profile IPO this year, and experts believe the shares will sell out quickly when public trading opens. This will be good for the banks handling the IPO, including lead bank UBS Investment Bank, along with Bank of America Merrill Lynch and Banco Santander.

While Ferrari N.V. will have its official business domicile in the Netherlands like FCA, operations will remain in Italy, including production of all models.

Source: Forbes

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