Yahoo Finanzen 
Investors are already clamoring for Ferrari's shares
(REUTERS/Denis Balibouse)
Italian automaker Ferrari hasn't even kicked off its initial public offering and bankers are already talking up its prospects.
Bloomberg's Tommaso Ebhardt, Manuel Baigorri, and Ruth David report that Ferrari is "on track" to gain the $11.2 billion value from the company's IPO, and that demand for the shares could be more than 10 times what's available.
They cite unidentified sources familiar with the process.
This demand is apparent before the IPO has even begun its official marketing – something that can only happen after the company files a price range for the sale.
CNBC reported earlier this week that Ferrari could set that price range as soon as Friday, and the shares would begin trading the week of October 12.
The interest in Ferrari comes even after news that German automaker Volkswagen was cheating emissions standards wiped billions in market value off of automaker shares. That included Ferrari's parent company, Fiat Chrysler.
The deal will be large, relative to other US IPOs. Fiat Chrysler plans to sell 10% of the company's shares, or about $1.1 billion worth based on Bloomberg's valuation.
The company's chairman, Sergio Marchionne has tried for months to value the Ferrari as a luxury-goods company rather than an automaker because they fetch higher valuations. Ferrari earned nearly $300 million in 2014, its preliminary IPO filing shows – so a valuation of $11.1 billion is about 37 times that.
Ferrari will likely begin trading under the ticker FRRI in New York.
NOW WATCH: The Dalai Lama says a female Dalai Lama must be attractive, "otherwise not much use"
More From Business Insider
