Ferrari wins rich US$10b valuation in Wall St IPO
Some 17.2m shares offered and at US$52 apiece, the price came in at the high end of its predicted range
New York
FERRARI, the inimitable Italian luxury sports car maker, garnered a rich US$10 billion valuation on Wall Street on Tuesday as its initial public offering went out at US$52 a share.
The share sale by parent Fiat Chrysler Automobiles came in at the high end of its predicted range, demonstrating substantial enthusiasm by investors and an endorsement of Fiat Chrysler chief executive Sergio Marchionne's plan to bring the legendary mark of the prancing horse to the US market.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
India’s IndiGo gets into long haul game with Airbus A350 deal
Hertz reports US$392 million loss as it unwinds Tesla fleet burden
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race