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Posts Tagged ‘ferrari stock’

Ferrari Stock Trading in Italy Set to Begin on Jan. 4

FCA may take Alfa Romeo back into Formula One.

by on Dec.15, 2015

FCA CEO Sergio Marchionne and former Ferrari CEO Luca di Montezemolo at the debut of the LaFerrari.

Not enough pennies in the piggybank to spring for the new Ferrari F12tdf? Not to worry, you can still own a Ferrari – or at least a piece of the Italian automaker.

Fiat Chrysler Automobiles says it expects to wrap-up the spin-off of its high-profile subsidiary sometime between December 31 and January 3rd, a process that began with the recent IPO of Ferrari shares on the New York Stock Exchange in October.

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To complete the process, Ferrari shares are expected to go on sale on Milan’s Borsa Italiana on January 4th. How Italian investors react remains to be seen, but after a high-flying start on the NYSE, shares of the supercar company have dipped by around 10%.

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Ferrari Stock Surges on First Day

But can it maintain that momentum?

by on Oct.22, 2015

FCA and Ferrari CEO Sergio Marchionne (front right in sweater) launches trading in RACE stock.

With the New York Stock Exchange symbol RACE, one might expect a new stock to take off like, well, a Ferrari Formula One race car – and that’s precisely what happened as the Italian automaker launched its long-awaited IPO.

Ferrari’s first-day surge was all the more impressive considering its stock initially was priced at $52, at the upper end of the anticipated offering. While RACE shares didn’t quite have the explosive power of a Google IPO, they still managed to end Wednesday trading at $55. And that gives the exclusive sports car company a market value of $10.4 billion.

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The strong reception was especially welcome on Wall Street at a time when several other closely-watched IPOs, including Digicel Group Ltd., were either canceled or postponed or delivered weaker-than-expected results.

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Ferrari Set to Launch IPO

“Potentially risky,” but investors could reward a strong upside potential.

by on Oct.20, 2015

Ferrari unveiled the new 488 Spider at the Frankfurt Motor Show last month.

The new Ferrari 488 Spider will launch you from 0 to 60 in barely three seconds. Now, parent Fiat Chrysler is hoping Ferrari itself will burn rubber when it launches trading on the New York Stock Exchange Wednesday.

The trans-Atlantic automaker recently announced plans to sell off a 10% stake in Ferrari at somewhere between $48 and $52 a share, the actually price set to be announced today. That’s a fair bit higher than many analysts had expected when plans for an IPO were first announced last year – and that reflects FCA’s optimism that the Ferrari brand will become one of the rare gotta-have automotive stocks.

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There are plenty of reasons to be optimistic. As many Wall Street traders might tell you, there’s a long waiting line for Ferrari sports cars, something the Italian maker hopes to tap with a modest rise in production. And it is betting it can tap into booming global demand for luxury goods through new licensing agreements that could land the brand’s prancing pony logo on a variety of upscale products.

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Ferrari IPO Process Begins

Exotic maker said to be valued around $9.8 billion.

by on Oct.12, 2015

Ferrari's "prancing pony."

Fiat Chrysler Automobiles has launched the long-awaited Initial Public Offering of its Ferrari brand.

As part of what it says will be a “series of transactions to separate Ferrari from FCA,” the maker said Monday it expects to price the exotic sports carmaker’s shares at between $48 and $52 apiece. That would value the entire company at about $9.8 billion – slightly less than the $12 billion some industry analysts had been expecting.

By the Numbers!

FCA CEO Sergio Marchionne had long resisted a spin-off of the Ferrari brand, but apparently relented as it became apparent the trans-Atlantic automaker needed cash to fund future product development programs for its other U.S. and European brands.

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Ferrari Ready to Launch IPO

Going public could force big changes on low-volume brand.

by on Sep.30, 2015

FCA CEO Sergio Marchionne and former Ferrari CEO Luca di Montezemolo both celebrated the launch of the $1 million Ferrari Enzo ultra-car.

Fiat Chrysler Automobiles could launch the eagerly awaited initial public offering of its Ferrari brand as early as Friday, according to various industry reports.

The move could generate as much as $1 billion in much-needed revenue for FCA, but it also raises some serious questions about the future of the ultra-exclusive Ferrari. A debate over how much to grow the brand last year resulted in the ouster of long-time CEO Luca di Montezemolo, who favored a go-slow approach.

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FCA CEO Sergio Marchionne has wanted to take more advantage of Ferrari’s image in the global luxury market, however, and is expected not only to push for faster growth of the brand’s luxury cars, but also to license its prancing pony logo for a broader range of upscale goods.

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FCA Set to Spin Off Ferrari

Investors applaud, but questions and challenges loom.

by on Oct.29, 2014

The 458 Speciale A made its debut at the Paris Motor Show earlier this month.

Only months after Fiat Chrysler CEO Sergio Marchionne ruled out the possibility of spinning off the maker’s high-profile Ferrari brand, that’s precisely what the maker now says it will do – a move that has fired up investors while raising questions about the long-term strategy for the supercar maker.

In an announcement accompany Fiat Chrysler Automobile’s third-quarter earnings report, the maker said it will sell 10% of Ferrari’s shares while the remaining 90% will go the only recently merged FCA’s own shareholders.

Stay in the Loop!

The move comes at a significant moment for Ferrari which just last month revealed that long-time chief executive Luca di Montezemolo would step down, apparently as a result of a dispute with Marchionne over the sports carmaker’s direction. It didn’t help that Ferrari also had one of its worst years on the trying Formula One race circuit in decades.

What happens now is something that both loyal “Ferraristas” and investors alike will be watching closely.

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