Know more about the release of Ferrari IPO offerings
|source via:-google search, business news, parent company fiat Chrysler says Ferrari IPO is coming soon and they have listed it in the new your stock exchange|
Parent company fiat Chrysler says that they have filed an initial public offering to list shares of luxury sports car brand on the New York Stock Exchange.
Proposing and IPO to sell 10% of Ferrari shares says the parent company on Thursday.
The CEO says that public offering will be made in the fourth quarter a slight delay from earlier projections because of the tax consideration.
The move unlocks the luxury brand's value and distinguishes it from its mass-market parent, while raising cash to support the newly merged car maker's plans to invest 48 billion euros ($61 billion) over five years.