Italian luxury carmaker Ferrari expects its US initial public offering to be priced in a range of between $48 and $52 per share, which could value the company at up to $9.8 billion, it said.
Parent Fiat Chrysler Automobiles (FCA) will sell up to 10 per cent of Ferrari in the IPO and will use proceeds to help pay for its own ambitious turnaround plan to boost global sales to 7 million cars by 2018, and compete with rivals such as BMW and Volkswagen.
02:48 January 2017 PlayStation Store Flash Sale: Games, DLCs For $1.99 To $4.99 Available For PS4, PS3, & PS Vita16
17:41 Ford to Record Pre-Tax Loss of $3 Billion in 201618
14:14 Ford expects $2B net income drop due to pension change15
11:02 Protests, anti-Trump events offer inauguration alternative18