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REPORT: Ferrari could launch its IPO this week
(REUTERS/Arnd Wiegmann)
The new Ferrari 488 GTB seen March 3 in Geneva during the first press day ahead of the 85th International Motor Show.
Ferrari could launch its highly anticipated initial public offering as early as Friday, CNBC reports.
The network cites anonymous sources who say the potential $1 billion offering could price sometime in mid-October.
The luxury exotic automaker has apparently been inching up to the IPO starting line in the months after its filing with the Securities and Exchange Commission in October last year.
Bloomberg reported in July that UBS Bank would be among the institutions overseeing Ferrari's debut on the New York Stock Exchange.
Ferrari has a storied legacy in high-performance motoring. The vehicle range now features six models, some of which are available in various configurations.
The most affordable prancing stallion — the California T — will set you back about $200,000, and the uber-exclusive LaFerrari, which retailed for more than $1 million and required an exclusive invite from Ferrari before you could even buy it, has been sold out pretty much since its debut.
Shares of Fiat Chrysler Automobiles, Ferrari's parent company, were up nearly 2.5% in after-hours trading to $12.50 per share.
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