The company's sales fell 5.4% from 2012 to 2013. Despite lower sales, Ferrari's revenue increased 5% to 2.3 billion euros ($3.2 billion). The company hopes to expand sales to larger markets in China and other Asian countries. However, government approvals and other regulations could impede growth in that region.
The Ferrari IPO is a spin-off of Fiat Chrysler Automobiles NV (NYSE: FCAU). Fiat is selling only 10% of Ferrari during its IPO. FCAU shareholders will own 80% of the company and Piero Ferrari – son of founder Enzo Ferrari – will own the last 10%.
According to Renaissance Capital, a manager of IPO-focused ETFs, Ferrari will raise $859 million by selling 17.2 million shares at a $48 to $52 price range. It's valued at $9.4 billion and should begin trading on Wednesday, Oct. 21.
http://moneymorning.com/2015/10/19/6-upcoming-ipos-this-week-led-by-ferrari-ipo-nyse-race/
The Ferrari IPO is a spin-off of Fiat Chrysler Automobiles NV (NYSE: FCAU). Fiat is selling only 10% of Ferrari during its IPO. FCAU shareholders will own 80% of the company and Piero Ferrari – son of founder Enzo Ferrari – will own the last 10%.
According to Renaissance Capital, a manager of IPO-focused ETFs, Ferrari will raise $859 million by selling 17.2 million shares at a $48 to $52 price range. It's valued at $9.4 billion and should begin trading on Wednesday, Oct. 21.
http://moneymorning.com/2015/10/19/6-upcoming-ipos-this-week-led-by-ferrari-ipo-nyse-race/
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