You Can Soon Own Ferrari Stock
If you are the sort of car fan that also likes to play the stock market, you will want to keep your eyes and wallet open. Ferrari is set to go public, and the IPO is expected to come at any time. Fiat Chrysler Automotive CEO Sergio Marchionne has told reporters recently that the Ferrari spin-off IPO could come any day now. He said, “We are days away from filing the prospectus.”
Ferrari will file for the IPO in New York and a second filing could be made in Milan, Italy. The IPO is expected to value Ferrari at somewhere around $11 billion. The real question is what will Ferrari do once it is publically held.
Raising billions in capital should mean it’s set to build some new models. Here’s hoping having to answer to shareholders doesn’t water down the Ferrari brand.