Ferrari IPO Priced at $52, Raises $893M, Company Valued at $12B

Jason Siu
by Jason Siu

Ferrari priced its initial public offering (IPO) at $52, helping raise $893 million.

The Italian automaker’s IPO was priced in New York on Tuesday at the top end of its indicated $48 to $52 per share range. The IPO also gives Ferrari a market capitalization of around $9.8 billion with shares trading upwards by midday to $56.32. Including the debt Ferrari will take on from parent company Fiat Chrysler, the automaker will have an enterprise value of about $12 billion.

To celebrate Ferrari’s IPO, FCA CEO and Ferrari Chairman Sergio Marchionne rang the opening bell at the New York Stock Exchange with other executives including vice chairman and son of Enzo Ferrari, Piero Ferrari. Fittingly, Ferrari shares are trading under the symbol RACE.

SEE ALSO: Ferrari Increasing Production 30 Percent by 2019

FCA will raise more than $4 billion from taking Ferrari public, despite limiting the offering to a 9.1 percent stake in the company. Investors’ demand for the shares greatly exceeded the number available. The company plans to distribute the remaining 80 percent stake to its own investors early next year while Piero Ferrari will retain his 10-percent holding.

Cash from the IPO will be vital to Fiat Chrysler, helping the company finance a $54.45 billion investment program to expand the Jeep, Alfa Romeo and Maserati brands.

[Source: Automotive News]

Discuss this story on our Ferrari Forum

Jason Siu
Jason Siu

Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.

More by Jason Siu

Join the conversation
 1 comment
  • Rubye Hannah Rubye Hannah on Oct 21, 2015

    This is something very interesting that is worth paying everyone's attention ,an excellent chance to work for those people who want to use their free time so that they can make some extra money using their computers... I have been working on this for last two and half years and I am earning 60-90 dollar/ hour In the past week I have earned 13,70 dollars for almost 20 hours sitting . Any specific qualification, degree or skills is not necessary for this, just keyboard typing and a good working and reliable internet connection . Not any Time limitations or boundations to start work You may do this work at any time when you willing to do it . Just know how I have been doing this......see this (webiste-Iink) on my !profile!` to know how I am working` on this` gfgf