Connect with us

Hi, what are you looking for?

Jewish Business News


Ferrari files for IPO, Valued at $10 Billion



On Friday Ferrari filed IPO paperwork to offer 17.2 million shares on the NYSE, valuing the company nearly $10 billion, at $48-$52 per share. The shares will trade on the New York Stock Exchange under the symbol RACE.

For owner Fiat Chrysler Automobiles NV, spinning off Ferrari is a way to finance a $54 billion investment program to improve and expand its Jeep, Alfa Romeo, and Maserati brands, Bloomberg reports.

The filing shows that Ferrari will take on $3.16 billion in debt from the company, As part of its separation from Fiat and subsequently issue a projected 2.128 billion euros in debt to third parties. Including that debt, Ferrari will have an enterprise value of about $12 billion.

Ferrari said it shipped 7, 255 cars and reached net revenues of $3.12 billion in 2014. The company expects third-quarter net revenues in a range of $814 million to $826 million, about 9 percent to 10 percent higher than third quarter 2014, the company said.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...


The contract signed between the Israeli government and Pfizer shows clearly and unequivocally that this is a clinical study on humans - The agreement...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.

cialis cialis satış