Pursuits
Ferrari IPO Said Set to Sell Out Even After VW's Sharp Fall
- Supercar maker's value still seen at about 10 billion euros
- Interest backs Marchionne's view of brand as luxury investment
The Long Rise and Rapid Fall of Volkswagen
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Ferrari SpA’s ability to sell racy sports cars at high prices has carried over to the company’s initial public offering, even as investors unload other auto stocks in the wake of Volkswagen AG’s diesel scandal.
Based on talks with potential investors, Ferrari is on track to garner the 10 billion-euro ($11.2 billion) value that Chairman Sergio Marchionne sought before the Volkswagen crisis broke, according to people familiar with the process who asked not to be identified because the arrangements are private. Initial requests for the stock may exceed the amount available by more than 10 times, one of the people said.