Ferrari IPO Filed On New York Stock Exchange

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Sergio Marchionne

Sergio Marchionne

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Fiat Chrysler Automobiles [NYSE:FCAU] CEO Sergio Marchionne thinks Ferrari will be worth “at least” $11 billion dollars when it’s finally floated on the New York Stock Exchange. And we’re closer than ever to finding out whether he’s right.

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The storied Italian automaker has now filed the paperwork necessary to be traded on the exchange, just the latest in a series of maneuvers that will complete its separation from FCA. The move will mean that the FCA’s flagship brand will sport a Trident as opposed to a Prancing Horse, and provide an infusion of funds to implement Marchionne’s ambitious expansion plans for both Maserati and corporate cousins Alfa Romeo and Jeep.

The recent filing follows the announcement that Ferrari will be listed as a Dutch holding company, and the not-unexpected revelation that it will remain an Italian resident for tax purposes. Financial powerhouse UBS AG is coordinating the global effort to take the company public.

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According to the terms of the deal, only 10 percent of Ferrari shares will be sold to the public. Most will wind up being distributed to the the Agnelli family-controlled Exor investment firm, while Enzo Ferrari’s son Piero will retrain his 10 percent stake in the company. Given the structure, fans need not worry about any hostile takeover transforming the brand.

Initial shares of Ferrari are expected to begin trading in 2016. More news when we have it.

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