Ferrari to Wall Street, that is $ 10 billion – The Messenger

The Ferrari is closer to Wall Street. There is the start date of the placement, which will be before the end of October, but the final report was presented to the SEC, the supervisory body of the American Stock Exchange. Will be sold approximately 18.8 million shares of Maranello, with a price range for the IPO between 48 and 52 dollars per share. The title will be marked with the code of the Horse Race. The artist refers to the 10% stake worth around $ 1 billion. The overall assessment of the Ferrari is therefore equal to about $ 10 billion. Next week is expected the road show with investors.

The statement has been filed with the SEC by New Business Netherlands NV, a company which will give rise Ferrari Nv under Dutch law. The offer – according to analysts’ expectations – should be fully subscribed, with demand at least ten times greater than the demand, despite the scandal Volkswagen.

Since the SEC document shows that in the first months of 2016 the remaining 80% of Ferrari shares will be distributed to shareholders Fiat Chrysler Automobiles action with a Ferrari every ten of Fca. The remaining 10% of the shares will always be owned by Piero Ferrari. The document also announced that the new board of directors will be composed of the chairman Sergio Marchionne, the chief executive officer Amedeo Felisa and the directors Piero Ferrari, Louis C. Camilleri, Eddy Cue, Giuseppina Capaldo, Sergio Duca and Elena Zambon.

The offer will be made by UBS Investment Bank, BofA Merrill Lynch, Allen & amp; Company Llc, Banco Santander, BNP Paribas, JP Morgan and Mediobanca. Only in early 2016, the Ferrari will be divided by Fca through ‘spin off’ and will pass under the control of Exor, the holding company of the Agnelli family, with a share of 24% which, thanks to the mechanism of multiple voting Dutch, will weigh much more and facilitate control with Piero Ferrari (son of the founder will retain its 10%).

The 2014 financial statements of the Ferrari closed with a turnover of 2.7 billion Euros and an operating profit 389 million.

 January 9, 2015 18:25 – Last Updated: 16:26

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