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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

A Ferrari sports car parked at the entrance of the New York Stock Exchange. The supercar maker reported net revenues of 2.76 billion euros in 2014 and a net profit of 265 million euros. Revenues grew 7 per cent a year between 2005 and 2014.

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...

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