Ferrari has pushed the ignition on a £6.5 billion stock market float with shares to sell for £33


Thousands of car lovers will soon be able to realise their childhood dreams of becoming Ferrari owners.

The Italian luxury car marque has pushed the ignition on a £6.5 billion stock market float.

This means fans will be able to own a piece of Ferrari for just £33 a share when around 10pc of the firm lists on the New York Stock Exchange.

A float has been on the grid for some time as Fiat, which has morphed into the newly combined Fiat Chrysler, wanted to release some of the value from the Ferrari brand – one of the world’s most recognisable marques.

It also wants to create some distance between its more mainstream brands, such as the Fiat Panda, and those vehicles sporting its prancing horse emblem.

A prospectus is expected shortly and while a date has not been set for the float, Ferrari is expected to list before Christmas.

Ferrari designs, engineers and produces cars in Maranello, northern Italy, and sells them in more than 60 countries.

Its Formula 1 team has won a record 224 Grand Prix races, 16 constructors’ world champion titles and 15 drivers’ world titles.

Source: THE DALY MAIL | Author: The Daily Mail