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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

Published Wed, Oct 21, 2015 · 09:50 PM
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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.

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