Fiat Chrysler files for IPO of Ferrari - SFGate
Fiat Chrysler said the number of shares to be offered or the potential price range had yet to be determined, but any proposed offering isn't expected to exceed 10 percent of Ferrari's outstanding shares. Following the offering, Fiat Chrysler said it expected it would own about 80 percent of Ferrari and about 10 percent would be owned by Piero Ferrari, the son of Ferrari founder Enzo Ferrari, according to a filing with the Securities and Exchange... Fiat Chrysler intends to distribute its remaining shares in Ferrari to Fiat Chrysler's shareholders following the IPO, according to the filing. Fiat took full control of Chrysler in 2014, and the companies were merged into Fiat Chrysler Automobiles last year, forming the world's seventh-largest automaker. Fiat had been Chrysler's parent since shortly after Chrysler's bankruptcy and government bailout in 2009. Ferrari has been part of Fiat since 1969, when Fiat first acquired a 50 percent stake in the automaker. Fiat Chrysler sold 4. 6 million automobiles and trucks in 150 countries in 2014. Its mass-market brands include Alfa Romeo, Chrysler, Dodge, Fiat and. Source: www.sfgate.com
