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Reuters reports that enthusiastic Ferraristi snapped up yesterday’s new shares of Ferrari, driving the initial public offering price to $52 per share, at the top of the estimated range.This places the value of the IPO at about $893 million.
Fiat Chrysler Automobiles is selling a 9.1% stake in Ferrarias the first step inspinningoff the legendary brand to fund its overhaul of Alfa Romeo, along with the international buildup of Jeep, Maserati, and Fiat. The stake is lower than the 10% originally announced.
Analysts estimated that, with the proceeds of the IPO, FCAcould seeup to$4.2 billion from Ferrari. Piero Ferrari, Enzo Ferrari’s son, will enter the ranks of billionaires based on the higher valuation of his 10% stake in Ferrari. (...) →
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Fiat Chrysler Automobiles is selling a 9.1% stake in Ferrarias the first step inspinningoff the legendary brand to fund its overhaul of Alfa Romeo, along with the international buildup of Jeep, Maserati, and Fiat. The stake is lower than the 10% originally announced.
Analysts estimated that, with the proceeds of the IPO, FCAcould seeup to$4.2 billion from Ferrari. Piero Ferrari, Enzo Ferrari’s son, will enter the ranks of billionaires based on the higher valuation of his 10% stake in Ferrari. (...) →
More...