Ferrari IPO price expected as high as US$53: CNBC

[BENGALURU] Luxury carmaker Ferrari's initial public offering could be priced as high as US$53 per share, CNBC reported, citing sources.

At that price, the company would be valued at US$10 billion. The price is above the previously indicated range of US$48-$52 per share for the IPO.

Ferrari is expected to start trading as a public company on Wednesday.

REUTERS