Ferrari will officially become a public company this afternoon when its stock begins trading on the New York Stock Exchange.
The luxury carmaker is floating around 9 percent of its outstanding shares to the public and will subsequently raise approximately $900 million.
Fiat Chrysler Automobiles' stake in the House of Maranello will be reduced to 80 percent, with Piero Lardi Ferrari conserving a 10 percent holding.
The deal is part of a series of transactions intended to fully separate Ferrari from FCA, which plans to transfer its remaining 80% stake in the company to its own shareholders, according to the IPO prospectus. The company will not receive any of the proceeds, as all of the shares are being sold by FCA.
In 2014, the company booked a profit of €265 million on revenue of €2.76 billion. It shipped 7,255 cars in that year.
It's interesting to note that in Ferrari's IPO prospectus, it underlined the fact that the company's commercial success is highly dependent on the success of its Formula 1 team which has won 222 Grand Prix, 16 Constructor titles and 15 Drivers' titles.
“If we are unable to attract and retain the necessary talent to succeed in international competitions or devote the capital necessary to fund successful racing activities, the value of the Ferrari brand and the appeal of our cars and other luxury goods may suffer,” said the prospectus.
Ferrari will trade in New York on the NYSE under the befitting ticker 'RACE', although 'ENZO' would have perhaps also been particularly appropriate...
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