Ferrari to be valued at up to $9.82bn in IPO
The initial public offering of a 9% stake in Ferrari could value the luxury car manufacturer at as much as $9.82bn.
Owner Fiat Chrysler Automobiles is planning to sell an initial 17.2m shares at between $48 and $52 apiece, which will trade under the ticker 'RACE'.
The group is set to eventually float the entire business, focusing instead on some of its other big name brands.
According to the regulatory filing, as part of the undertaking Ferrari will accept €2.8bn in debt from Fiat and plans to issue an anticipated €2.128bn in debt to third parties.
The company is being advised by UBS AG, Bank of America Corp's Merrill Lynch, Banco Santander SA, Mediobanca SpA and JPMorgan Chase & Co.