Ferrari to Become Ferrari N.V. with IPO
business | ferrari | ipo | July 24, 2015
Earlier this month, I mentioned that Ferrari was planning to launch an IPO and become a publicly-owned company. We have more details on that move now, as Fiat Chrysler Automobiles, who has owned 90% of Ferrari since 1988, filed the paperwork with regulators for the IPO to happen. Along with the IPO will come a Ferrari name change. The new name is Ferrari N.V. and the stock will be sold on the New York Stock Exchange.
We aren’t sure at this point how many shares will be offered for sale and how much the shares will cost each. The IPO is expected to value the company at around $11 billion. What we do know is that only 10% of the shares available will be offered to the public.
Of the total shares available, 80% will be distributed to its current shareholders and 10% will remain with Piero Ferrari, son of Enzo Ferrari the company founder. The stock is predicted to sell out quickly when trading opens.