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Ferrari stock more popular than expected

by David Zatz on

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

Hamilton-LaFerrari-Web

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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