10pc of Ferrari to be floated on stock exchange next year
- Published on 30 Oct 2014 08:29
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- By: Rob Veenstra
Ferrari will be floated on the stock exchange next year.
The Maranello outfit - the F1 team and the producer of exclusive sports cars - will be spun off from the Fiat Chrysler parent group, with 10 per cent of the shares to be up for grabs to the public on a US and possibly a European stock market.
"Coupled with the recent listing of (Fiat Chrysler) shares on the NYSE, the separation of Ferrari will preserve the cherished Italian heritage and unique position of the Ferrari business," confirmed chairman John Elkann. (GMM)
The Maranello outfit - the F1 team and the producer of exclusive sports cars - will be spun off from the Fiat Chrysler parent group, with 10 per cent of the shares to be up for grabs to the public on a US and possibly a European stock market.
"Coupled with the recent listing of (Fiat Chrysler) shares on the NYSE, the separation of Ferrari will preserve the cherished Italian heritage and unique position of the Ferrari business," confirmed chairman John Elkann. (GMM)
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Replies (1)
Login to replyBtwnDitches
Posts: 204
This does not bode well for team Ferrari. People familiar with American stock investors, especially large insitutional investors or investment funds, know their low tolerance for promotional spending that doesn't have a big, current pay-back either in enhanced stock price or dividend. F1 spending is significant and takes years for payback, if any. Too long to keep ANY hard-nosed investors patient and out of court (wasteful spending).