Ferrari will have its IPO (Initial Public Offer) in a few month’s time. The company is said to have its debut on the New York Stock Exchange with a $10 billion valuation. Ferrari will only provide 10% of its company share value through this IPO to attract investors. Ferrari is vaunting around $1 billion they wish to collect through stock sales, adding a substantial amount of liquid capital to their company operations.
Its parent company Fiat Chrysler Automobile (FCAM) said Monday it plans to set a price of $48 to $52 per Ferrari share, making it one of the more appealing IPO’s set in recent years. But that’s not the most remarkable thing about it.
Ferrari has decided on their ticker symbol; they will use RACE when the company debuts on the New York Stock Exchange. Definitely epic. On the other more financial side of things, the rest of the Ferrari stocks will be divided among the company shareholders. Fiat Chrysler also own Dodge, Maserati and Jeep. Today, they are one of the remaining old juggernauts. Work in the new, more eco-friendly oriented car world has seen the old guard changing their school of thought, venturing into uncharted territories it seems. This, for Ferrari, meant the company increased their production numbers, affording more earnings and bigger income for the company. But it still remains to be seen how and if that affects their legacy, appeal and heritage.