Ferrari is one of the most iconic supercar brands in the world and soon you’ll be able to own a small part of the company. FiatChrysler Automobiles, which has owned 90 percent of Ferrari since 1988, has officially filed an initial public offering (IPO), that will spin off Ferrari into a separate, publicly-owned company.
Ferrari will list on the New York Stock Exchange (NYSE) with approximately 10 percent of the company being offered for public holdings. 80 percent of the legendary sportscar maker will be distributed to FCA shareholders. The remaining 10 percent of Ferrari will continue to be owned by Piero Ferrari, son of company founder Enzo Ferrari.
The IPO is expected for mid-October.
In the filing the company says the traditionally Italian business will be housed in the Netherlands, following the structure of current owner FCA. The company will continue to manufacture it’s vehicles in Italy.
The stock pricing is expected to skyrocket, which means everyday investors may find the stock price a bit unflattering for regular day trading. However, you can purchased some FiatChrysler shares ahead of the IPO to cash in on what is sure to be a big day on the NYSE.
The lead bank, or Global Coordinator, is UBS Investment bank. Joining UBS in handling the offering are BofA Merrill Lynch and Banco Santander.