Ferrari Officially Files For U.S. IPO On 23rd Of July

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Ferrari on 23rd of July, 2015 has officially filed for an Initial Public Offering(IPO) with the U.S. For a while now rumours were afloat, however, it has now been confirmed by the Italian manufacturer.

Fiat Chrysler Automobiles is the current owner of Ferrari and several other automobile brands. The group currently owns 90 percent of Ferrari shares and plans on selling only 10 percent.

Remainder of shares will be distributed among existing shareholders of Ferrari. Currently 10 percent of share is owned by Piero Ferrari, Vice Chairman. He is also the son of Enzo Ferrari, Founder of the Italian supercar outfit.

Sale of this IPO would commence by mid-October and has not confirmed price of shares. Ferrari is currently worth around 10 billion Euros and its status should be of a full-fledged luxury good stock.

Fiat Chrysler Automobiles have huge debts, roughly 48 billion Euro. Ferrari's IPO and sale of stakes is expected to reduce the debt of its parent company substantially.

We currently cannot determine if this sales of stakes will do good or harm Ferrari's brand value. The Italian supercar maker has stood the test of time and we are confident it would not be going anywhere soon.

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Read more on: #ferrari #auto news
Story first published: Friday, July 24, 2015, 11:13 [IST]
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