Fiat Chrysler Automobile (FCA) has submitted the required paperwork at the New York Stock Exchange on Thursday for its Ferrari IPO. The fabled Italian automaker is taking a new direction under new management and is expected to offer 10 per cent for public purchase.
FCA had announced several months ago that it would spin off the Prancing Horse as a separate company. Reports reveal that the company will have its domicile in Netherlands but will for obvious and more importantly historical reasons continue to run operations from Maranello.
The IPO is expected to happen in mid-October and will be managed by UBS, BoFA Merrill Lynch and Banco Santander who is incidentally one of Scuderia Ferrari’s sponsors.
