Pursuits
Ferrari IPO Said to Be Oversubscribed Ahead of New York Listing
- Books closing Monday as final pricing expected late Tuesday
- Share sale values Ferrari at $12 billion including debt
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Ferrari NV’s initial public offering is oversubscribed throughout its price range as investor interest in the supercar maker outstrips the shares available, people familiar with the matter said.
Investors had indicated to bankers last week before the sale began that demand would far exceed the available number of shares, and those predictions have been borne out, said the people, who asked not to be named because the process is private. The books close on Monday at 4 p.m. in all regions, two of the people said.