Ferrari IPO launched, stock to be listed on the NYSE under symbol RACE
3590
Fiat Chrysler Cars has formally started Ferrari's original public offering (IPO).
The offering will consist of 17,175,000 typical shares of Ferrari NV, a nearly nine percent position, which will be valued between $48 (EUR42) and $52 (EUR45) a discuss. The shares will probably be recorded on the NYSE below the sign of RACE.
Within the spin-off from FCA, Ferrari will presume $3.1 (EUR2.8) billion of debt. Enzo Ferrari's son, Piero Ferrari, will additionally being getting a rather pleasant pay day as he will obtain a-10% stake in the auto-maker including a $318.5 (EUR280) million money payment.
While some analysts have already been critical of the evaluation, it has not discouraged investors as Bloomberg is reporting first requests for shares has outpaced accessibility by more than 10-to-one. Read Source
More news from this source:
Go Motors Blog
Top 10 Best Chevrolet Models of All Time
9 Unique Ways to Customize Your Car
How to Find the Best Tow Truck Companies
5 Tips for Finding a Good Mechanic You Can Trust
7 Driving Techniques and Other Tips for Fuel Efficiency
6 Effective Maintenance Tips for Car Headlights
Car Repair at Home: 4 Easy DIY Fixes That Anyone Can Do
7 Tips for How to Install Windshield Wipers
Shady Car Mechanic Tricks You’ve Never Known Before
View All Recent Posts
New Photo Galleries
LATEST NEWS
more news
LATEST CAR REVIEWS