James May 488 GTB
Parent Fiat Chrysler Automobiles (FCA) (FCHA.MI) (FCAU.N) will sell up to 10 percent of Ferrari in the IPO and will use proceeds to help pay for its own ambitious turnaround plan to boost global sales to 7 million cars by 2018, and compete with rivals such as BMW and Volkswagen.
Chris Harris 488 GTB
The price range, announced in the IPO prospectus on Friday, may satisfy FCA Chief Executive and Ferrari Chairman Sergio Marchionne, who has said Ferrari was worth at least 10 billion euros ($11.4 bln). Some analysts had said it could be just over half that.
1964 Ferrari 250 GTO
Chris Evan's BBC Top Gear 1961 Ferrari 250 TR61 Hard revs, muira, db5, 288 gto, daytona, 250
In the prospectus filed with the U.S. market regulator, Ferrari said it would offer 17.2 million shares in the IPO, equal to around a 9 percent stake in the sportscar maker. An additional 1.7 million shares may be sold if the greenshoe option is exercised, it added, raising the size of the total offering to a 10 percent stake.
1969 Ferrari 312P (Roaring V12 3.0l at Le Mans Classic)
FCA could raise up to $982 million through the offering.
Ferrari, famous for luxury vehicles adorned with its "prancing horse" logo and its Formula One racing team, expects to list on the New York Stock Exchange under the symbol "RACE". Its Wall Street debut is expected in the second half of October, while FCA plans to spin off the whole of Ferrari next year.
Marchionne wants Ferrari to be priced as a high-flying luxury goods stock, but analysts have questioned whether the capital intensive business deserves the multiples enjoyed by the likes of Prada (1913.HK) and Hermes (HRMS.PA).
The Persuaders! - Ultimate Car Chase Ferrari Dino and Aston Martin
Miami Vice Testorossa Tribute
Piero Ferrari, vice chairman and son of the founder Enzo, who died in 1988, will retain his 10 percent stake in Ferrari.
Ferris Bueller's Day Off
Ferrari's float will include a loyalty share scheme for long-term investors, set to tighten the grip on the company by Fiat's founding Agnelli family. The Agnellis, through their holding company Exor (EXOR.MI), and Piero Ferrari together could end up with a voting power of around 50 percent, enabling them to thwart any unwanted takeover bid.
The Italian Job
UBS is the offer's global coordinator, with BofA Merrill Lynch, Allen & Company, Banco Santander, BNP Paribas, J.P. Morgan and Mediobanca acting as joint bookrunners.
($1 = 0.8805 euros)
(Reporting by Rachel Chitra in Bengaluru and Agnieszka Flak in Milan; Editing by Don Sebastian and Susan Fenton)
Private palaces: Russia moves to hide property data
Foster + Partners New York is one of 30 finalists in Mars habitat design competition