Pursuits
Ferrari Said to Push for $12.4 Billion Valuation in IPO
- IPO price range said set to be published as soon as Friday
- Supercar maker plans to increase deliveries by 25 percent
The Ferrari ‘Legend’ Sells Dream Not Cars
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Ferrari’s coveted status as a maker of cars for the super rich is helping push up its value in an initial public offering to as much as 11 billion euros ($12.4 billion), according to people familiar with the matter.
Based on talks with possible investors, Ferrari could be valued from just under 10 billion euros to 11 billion euros when owner Fiat Chrysler Automobiles NV sells a 10 percent stake in the division on the New York Stock Exchange, according to the people, who asked not to be identified because the arrangements are private. Fiat shares traded in New York and Milan jumped to an eight-week high.