Ferrari Set For IPO In Wall Street Debut

Italian luxury sportscar maker Ferrari is accelerating towards a stock market listing after its parent Fiat Chrysler Automobiles filed for an initial public offering on the New York Stock Exchange. After the listing, Fiat Chrysler’s subsidiary will be known as Ferrari NV. in New York. Ferrari IPO expected in early 2016 As detailed by ValueWalk, Fiat Chrysler Automobiles NV unveiled its plans last year to list a 10% stake in luxury brand Ferrari and issue $2.5 billion in convertible bonds to fund the parent company’s turnaround plan. Fiat bought 59% of Chrysler out of bankruptcy in 2009. Subsequently, Fiat acquired…