Ferrari files for New York Stock exchange IPO

Ferrari, the makers of some of the greatest cars ever made, has filed for IPO at the New York stock exchange. Officials from the New York stock exchange mentioned that the Italian company has filed for the initial public offering with the regulators on Thursday through Fiat Chrysler Automobiles or FCA which is Ferrari’s parent company.

FCA had intended to put the supercar manufacturer on the New York stock exchange a few months ago through a statement from the parent company in order to boost both value and sales figures for Ferrari in the future. According to sources, Ferrari could be valued at close to or over $10 billion which is a significant figure considering the number of cars Ferrari sells annually. FCA and their banking partners UBS however have declined to comment on a value and on company or the offering price.

This move is the brainchild of Ferrari Chairman Sergio Marchionne who aims to increase both the value of the company and the production figure of the cars from about 7000 to as much as 10000 cars to meet global demand. Marchionne’s decisions to increase production is contrary to what Luca De Montezemolo wanted. Luca in turn wanted a very limited figure of cars to be made for glpbal audiences which would help maintain values for used Ferraris and in turn classic Ferraris for years to come.