Luxury carmaker to list on the NYSE under sale of 17.2m shares by Fiat Chrysler AutomobilesItalian sports carmaker Ferrari’s share sale in the US is expected to raise as much as $900m (£587m) at the planned price range of $48-$52 per share. The US IPO of 17.2m shares is roughly 9% of parent company Fiat Chrysler Automobiles’ stake. FCA,which owns around 90% of Ferrari, is planning to distribute the rest of its stake to its shareholders. Ferrari, and the marque renowned for its prancing horse logo and its Formula One racing team,expects to list on the New York Stock Exchange under the symbol RACE. FCA said that it expects Ferrari to move public by mid-October.
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Source: theguardian.com