Ferrari valued at up to $9.8 bn in US initial public offer

Oct 14, 2015 589

Italian luxury carmaker Ferrari expects its US initial public offering to be priced in a range of between $48 and $52 per share, which could value the company at up to $9.8 billion, it said.

Parent Fiat Chrysler Automobiles (FCA) will sell up to 10 percent of Ferrari in the IPO and will use proceeds to help pay for its own ambitious turnaround plan to boost global sales to 7 million cars by 2018, and compete with rivals such as BMW and Volkswagen.

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Source: http://auto.economictimes.indiatimes.com/

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