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Ferrari raises $893M, valued at $12B

Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.

Why the Ferrari Enzo Ferrari debuted in Charlie’s Angels | The Car Stays in the Picture

The irregular series, The Car Stays in the Picture , covers the sometimes bizarre backstories of the real stars of movie favorites: the cars. In our last one, we covered the iconic Porsche 928 from Risky Business. This time, it's a homely hypercar's unusual footnote in history. The inelegantly named, and inelegantly styled, Ferrari Enzo Ferrari was, a technological triumph when it was unveiled in 2002 at the Paris Motor Show. The successor to the equally, but distinctly, unlovely F50, it was Maranello's latest ultra-exclusive supercar. It had a price tag and spec sheet to match: 6-liter V12, 6-speed Formula One-inspired electrohydraulic transmission, 660 hp, $650,000. It was also, at that fateful reveal in the City of Light, fresh off of a plane from Malibu, where it had just touched North American soil for the first time – or at least North American sand. It had been driven on a beach by a bikini-clad Demi Moore, in her star turn as a villain in the second filmic reboot of the 1970s Jigglevision TV show, Charlie's Angels, subtitled, appropriately enough Full Throttle. All of which begs the automotive question we love to ask at The Car Stays in the Picture: How the hell did something like this ever happen? "It was a combination between us having a very strong connection in Hollywood, and knowing the dealer, Giacomo Mattioli of Ferrari of Beverly Hills, that has always been quite prominent, used by a lot of movie directors," says Marco Mattiacci, the vice president of the Ferrari and Maserati brands in North America at the time. "But one of the things we were doing then was trying to find placements for Maserati. And we had to leverage that appeal of Ferrari." The Enzo was thus something of a Trojan Prancing Horse, with the re-launch of Maserati USA hiding inside – a carrot leading not a stick, but a trident, or maybe some slightly less familiar vegetable, like broccoli rabe. "In that movie, there was the Enzo. But there is also a 2002 Maserati Spyder. That was more of the key product placement. We had to place the Maserati," Mattiacci emphasizes.

What is the fastest car in the world in 2024?

It wasn't that long ago that the notion of reaching 200 miles per hour in a car, on a road, seemed basically impossible. As you likely know by now, that time has passed. And once that threshold was crossed, the automotive world immediately began eying the next triple-digit benchmark: 300 miles per hour. It may have taken a little while, but the 300-mph line has been crossed, and some cars have moved well past that seemingly insane speed number. While some of these speeds have been achieved in simulations (including the fastest car listed below), there's little doubt that a driver with nerves of steel and a heavy right foot could indeed push several automobiles up to 300 miles per hour and beyond. Interestingly, it’s not just one car or automaker in the 300-mph club, as a handful of models have earned a place (sometimes claimed but not yet demonstrated) on the leaderboard. The fastest car in the world is: Koenigsegg Jesko Absolut (330 MPH) That title goes to the Koenigsegg Jesko Absolut, which recorded a staggering 330 mph top speed earlier in 2023. The carÂ’s twin-turbocharged 5.0-liter V8 lays down 1,600 horsepower and 1,106 pound-feet of torque, which plays a significant role in delivering that speed, but KoenigseggÂ’s engineers have given the car a lot more than mind-blowing power. The Jesko Absolut has a super-slippery 0.278 drag coefficient and a nine-speed transmission that shifts so quickly itÂ’s almost imperceptible. Koenigsegg calls it a Light Speed Transmission (LST), saying its shifts happen at almost light speed. While that might be a slight exaggeration, the gearbox is impressive, bringing several wet multi-disc clutches and a super lightweight construction. As Koenigsegg says, "the Jesko Absolut is destined to achieve higher, more extraordinary speeds than any Koenigsegg or any other fully homologated car before it." How expensive is the Koenigsegg Jesko Absolut? If you were reading that and wondering how much the fastest car in the world costs, the price tag is just another dizzying number on the Jesko Absolut's spec sheet. All 125 Absolut cars offered sold out at a price of almost $3 million. Of course, being able to afford the Koenigsegg is just the first step in realizing its full potential. There are very few places on the map that can support a 300-plus-mph speed run, and the locations that do are not conveniently located.