$48-52 US IPO price values Ferrari at $9.8 b

October 12, 2015 9:03 AM

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$48-52 US IPO price values Ferrari at $9.8 b

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.

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