Deals
Ferrari Raises $893 Million Pricing IPO Shares Top of Range
- Supercar maker offered 17.18 million shares for $48-$52 each
- Ferrari will have EV of about $12 billion including Fiat Debt
Ferrari IPO: How NYSE Secured the Listing
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Ferrari NV raised $893 million in its U.S. initial public offering, pricing the shares at the top end of the marketed range after investor demand in the supercar maker outstripped the stock available.
Majority shareholder Fiat Chrysler Automobiles NV, which is selling a 9 percent stake in the iconic Italian brand, priced 17.18 million shares at $52 each, according to a statement Tuesday, after offering them for $48 to $52 apiece. Including debt Ferrari will take on from Fiat, the company will have an enterprise value of about $12 billion.