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Black 6050 19th October 2015 13:24

Ferrari stock offering for expansion of Jeep
 
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Ferrari stock more popular than expected

by David Zatz
10/16/2015

Bloomberg has been told that Ferrari’s initial public stock offering (IPO) is oversubscribed as investors want more stock than is available.

The books close on Monday at 4 p.m. in all regions, two of the people said. Current owners of FCA stock will be assigned 80% of FCA’s Ferrari stock next year, with the rest sold off to raise money for expansion of Jeep, Maserati, and Alfa Romeo in a plan costing around US$55 billion.

Around 10% of the company — nearly 19 million shares — are to be sold at roughly $50 per share, under the ticker symbol RACE. Ferrari will include debt from Fiat Chrysler and is expected to be capitalized at $12 billion. Another 10% of the company will be retained by Piero Ferrari.


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