24 Jul 2015
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Ferrari on Thursday filed a document with U.S. regulators that will allow the car maker to proceed with an initial public offering on the New York Stock Exchange that could be valued at as much as USD 10.93 billion. Fiat Chrysler confirmed that it plans to sell about 10 per cent of Ferrari in the IPO. The Italian-American car maker has said previously that after the IPO it will distribute to its shareholders the rest of its holding in Ferrari. Fiat Chrysler Automobiles owns 90 per cent of Ferrari. The rest of the company is owned by the son of its founder. UBS is the global coordinator for the share sale and will also be a joint bookrunner together with Bank of America Merrill Lynch and Banco Santander. The IPO is expected to take place in the fourth quarter. |
Source: Dion Global Type: IPO Related |