FCA files to float Ferrari in New York
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The maker of Italy鈥檚 iconic Ferrari sports car yesterday officially filed with United States regulators its plans to launch an initial public offering on Wall Street, parent company Fiat Chrysler Automobiles said.
FCA said last year that it would spin off its sports cars and seek an IPO. Now Ferrari intends 鈥渢o be listed on the New York Stock Exchange,鈥 FCA said in a statement.
Its filing with the US Securities and Exchange Commission did not specify the share price range nor the number of shares to be offered, but FCA said it was 鈥渘ot expected to exceed 10 percent of all ordinary shares.鈥
Fiat Chrysler has valued the supercar unit at more than US$11 billion and plans to complete the separation early next year, Bloomberg News said.
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