Ferrari, all set to debut on Wall Street: waiting for the first exchanges – Il Sole 24 Ore

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This article was published on Oct. 21, 2015 at 15:28.
The last change is the October 21, 2015 at 15:38.

Wall Street is the big day for Ferrari, which debuted at the New York Stock Exchange. In front of the palace of the NYSE, the facade of which is covered by the Prancing Horse logo, passersby and onlookers flocked to admire the many cars, racing and road, parked on display. The leadership of Ferrari played at 15.30 o’clock the bell that marks the start of trading on Wall Street, but for the start of trade in Ferrari will have to wait a few more minutes, as always happens with rookies. The start of trading, with the evocative symbol Race, is expected to be approximately 10, 16 in Italy. On the floor of the NYSE, there are, among others, Sergio Marchionne, CEO of Fca and president of Ferrari, and John Elkann, Chairman of Exor and Fca.

Fca has provided investors 10% of its share (now down to 80%, the remaining 10% is in the hands of Piero Ferrari) and according to the latest rumors orders were very greater than the supply.

The exchanges should start from 52 dollars per share, the top of the range indicated by Ferrari in the document filed with the SEC, Consob American, which provided an initial price between 48 and $ 52. Outside the headquarters of the bag where was placed a huge red flag for Ferrari, they are exposed several cars of the Prancing Horse: the latest models, from “F12berlinetta”, the FF 2015, the historic “California 250″ until the model year is racing in Formula 1.

The transaction Fiat Chrysler Automobiles will derive an amount between 893 and 824.4 million dollars. However overallotment option was planned (often dubbed as Greenshoe), aimed at further expanding the offer in line with demand, amounting to 1.7 million additional titles to 17,175,000 of securities provided. Fca will enter into the coffers a sum close to a billion dollars, to be precise an amount between 906 and 981.5 million dollars. Money that will be used to reduce the indebtedness of the group, while the entire operation that will bring next year then unbundling is a brick crucial to support the construction of the development plan and investment Fca by almost $ 55 billion.

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