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Earlier this month, Italian exotic automaker Ferrari debuted its new F12 Berlinetta at the 2012 Geneva Motor Show. Ferrari Chairman Luca Cordero di Montezemolo was responsible for the unveiling of the F12 Berlinetta, and now he is once again denying reports of a Ferrari IPO.
Despite addressing these rumors last month about Ferrari going public, new ones surfaced when Italian business tabloid MF said a number of investment banks visited Fiat‘s office to propose a listing last week. Nonetheless, Luca Cordero di Montezemolo has reassured the public that Ferrari is indeed not going public anytime soon; though Sergio Marchionne, Fiat CEO, has left open the possibility of an eventual listing.
By going public, Ferrari has the potential to raise funds for its parent company, Fiat, by leveraging the popularity of its luxury moniker.