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Ferrari IPO worth $1 billion to launch imminently

Or maybe not. Back in July, we reported that Ferrari's initial public offering could come any day, based on what FCA honcho Sergio Marchionne told reporters at an international economic forum. Marchionne himself ensured investors that the Maranello automaker was "days away" from filing the paperwork. That didn't happen. Now it's October, and the rumormill is churning about all things Ferrari IPO on the news that the company has filed amended IPO documents with the SEC on September 22. Like last time, the launch is apparently imminent – as early as today, reports CNBC – and sources are hearing an offer of $1 billion in stock, or roughly 10 percent of what FCA believes Ferrari to be worth. Back in July, Marchionne insisted that Ferrari was worth as much as $11 billion, despite experts at the time pointing out that this was much higher than even the company's internal assessment of the brand's value. Bloomberg is also reporting that demand for Ferrari stock may exceed supply by as much as 10 times, even before the IPO. Much of this value (as much as half) is derived from the brand as intellectual property, as opposed to its assets or profitability. Part of the brand value equation is Marchionne's attempt to reposition Ferrari as a "luxury" brand, as Business Insider notes – the word "luxury" is mentioned 151 times in the document. The broad universe of branded Ferrari goods, like luxury clothing and toys, are a strong illustration of Ferrari's power as a brand. For traditionalists and Ferrari fans jittery at the thought of their beloved manufacturer subject to the whims of shareholders, a few calming notes. Tech Times reports that the documents confirm that Ferrari will remain incorporated as an Italian company. More importantly, there's no indication at present that Ferrari's new emphasis on "luxury" will change their product plans, meaning ever-faster exotic cars will continue to roll out of Maranello for now.Related Video:

2019 Ferrari 488 Pista First Drive Review | Quantum physics

MARANELLO, Italy — Ferrari's special-edition V8s have a long history of delivering more than the sum of their individual parts. The 360 Challenge Stradale (2003), 430 Scuderia (2007), and 458 Speciale (2013) each leapfrogged the capabilities of their donor cars to cement their notoriety in supercar history. The latest in that lineage is the Ferrari 488 Pista, a hopped-up variant that is the most powerful road-going V8 in Ferrari history. The Pista is so quick that its lap time around the company's own private Fiorano circuit is only 1.8 seconds behind the LaFerrari. With 49 more horsepower pushing around 198 fewer pounds, the $345,300 488 Pista looks, at least on paper, like a no-brainer for deep-pocketed speed fiends. But there are also a slew of tiny changes that alter its persona — 50 percent of the engine components are new — as well as intangible characteristics. The carbon fiber intake manifold, for instance, shaves weight but also features shorter, lower-volume intake runners for better throttle response. The turbocharger's turbines are composed of a new aluminum-titanium alloy that slashes inertia in half, trimming the powerplant's already minimal turbo lag. Titanium connecting rods aid cylinder acceleration. And new robot-welded Inconel exhaust manifolds are 10-percent wider and slightly longer, offering reduced back pressure and a throatier note. Coupled with reduced sound-deadening materials, the pipes are responsible for more engine sound reaching the cabin. Before tackling the famed Fiorano track, I drive the 488 Pista on the street to see what 710 horsepower in a twin-turbo Ferrari feels like, and my first impressions came on thick. Sure, there's the expected interior upgrades of copious Alcantara and carbon fiber, visible aluminum floor plates, and massive carbon paddles borrowed from the 488 Challenge race car. Hold the red steering wheel-mounted engine start button with a press of the big drilled aluminum brake pedal, and the 3.9-liter V8 fires up with a noticeably more bass-heavy thrum than before, the first hint that this is an entirely different beast than the off-the-rack 488. Leave the seven-speed dual-clutch in automatic, and gearshifts happen remarkably smoothly, even in the second-most aggressive "CT Off" mode, which removes traction control but keeps stability control active.

Ferrari testing 458 Challenge Evoluzione at Mugello

Ferrari makes road cars, it makes racecars, and it makes road cars into racecars. The 458 Challenge falls into the latter category, transforming the 458 Italia into the basis for Maranello's one-make spec racing series. It replaced the F430 Challenge in 2011, which in turn followed the 360 Challenge, F355 Challenge and 348 Challenge that started it all in the mid-90s.
Now the Prancing Horse marque is set to move the game forward again with the revised 458 Challenge Evoluzione. Seen here undergoing testing at what could be any tree-lined circuit but is likely Mugello (which Ferrari just happens to own in addition to the Fiorano test track at the factory), the 458 Challenge Evoluzione takes a step further with a new aerodynamics package.
Other changes will likely be nominal, and Ferrari will probably offer existing customer racers the option of upgrading to stay at the front of the pack instead of replacing their $300k racers entirely. One way or another, Ferrari is set to unveil the 458 Challenge Evoluzione, also at Mugello, after the conclusion this year's Finali Mondiali, the event that ties up the end of Ferrari Challenge series from around the world next week.