FCA Announces Launch of Ferrari Initial Public Offering

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Go back to FCA Announces Launch of Ferrari Initial Public Offering

FCA (FCAU) Announces Launch of Ferrari IPO (RACE)

October 12, 2015 6:24 AM EDT

Fiat Chrysler Automobiles (NYSE: FCAU) and its subsidiary New Business Netherlands N.V. to be renamed Ferrari N.V. ("Ferrari") announce today that Ferrari has launched its initial public offering ("IPO").

FCA, currently holding a 90 percent of Ferrari's issued and outstanding share capital, intends to sell 17,175,000 common shares of Ferrari, equal to approximately 9 percent of Ferrari's common shares pursuant to a registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). The initial public offering price is currently expected to be between $48 and $52 per share, and... More