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FCA launches Ferrari IPO

It's been a long time coming, but the moment is finally upon us: Ferrari is hitting the stock market. Its parent company Fiat Chrysler Automobiles has announced the launch of Ferrari's initial public offering – almost exactly a year to the day since FCA launched its IPO (pictured above). And with it, FCA is starting the process of separating the Maranello-based exotic automaker and racing team away from the rest of the Italian-American industrial empire. The plan filed with the US Securities and Exchange Commission (SEC) calls for FCA – which owns 90 percent of Ferrari – to float 17,175,000 common shares on the New York Stock Exchange. That amounts to nine percent of Ferrari's common shares. Another 1,717,150 common shares (equal to 1 percent) will be offered to the underwriters of the IPO. The remaining 80 percent interest in the Prancing Horse company will be separated from the rest of FCA and distributed to the parent company's shareholders – of which Exor, the Agnelli/Elkann family's holding company, is the largest, holding a stake of about 30 percent. Currently registered as New Business Netherlands NV, the company is soon to be renamed Ferrari NV. And while it's nominally based, like its (soon to be former) parent company, in the Netherlands, there's no reason to anticipate at this point that Ferrari will move its operating headquarters away from its current and historic home in Maranello, on the outskirts of Modena in Italy's "supercar valley." The IPO is expected to be priced at or around $50 per share (give or take a couple of bucks), which would value the company at around $10 billion. Trading won't actually commence, however, until all the SEC filings are complete. At that point, the company will be listed on the NYSE under the symbol RACE. And whether you yourself are actually interested in trading in Ferrari shares or not, that could be one of the best parts of the announcement. FCA Announces Launch of Ferrari Initial Public Offering LONDON, October 12, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MI: FCA) ("FCA") and its subsidiary New Business Netherlands N.V. to be renamed Ferrari N.V. ("Ferrari") announce today that Ferrari has launched its initial public offering ("IPO").

The Windsor Castle Concours d'Elegance in pictures, courtesy of Bentley

Bentley went to the Windsor Castle Concours of Elegance as the main sponsor and showed off six of its best among the gathering of "60 of the finest motor cars in the world," including the 4¼-liter Bentley 'Embiricos' Special built for a Greek shipping magnate and gentleman racer in the 1930s.
Even better, for us at least, is that when Bentley decided to capture the moment it took pictures of most of the metal on the lawn, not just the Bentleys. Thanks to that, we have a high-res gallery that's home to rarities like the Vauxhall 30-98 Type OE Boattail Wensum Tourer, beauties like the Bugatti Type 57S Atalante, long-tail Ford GT40, Maserati Tipo 60 Birdcage, Aston Martin DB4GT Zagato, a sinister Ferrari 250 GTO and the even more sinister Rolls-Royce Phantom Aerodynamic Coupe, among others. All you need to do now is click and enjoy.

Ferrari 812 Superfast: It looks like it sounds

Ferrari has been on a roll with its recent mid-cycle refreshes. Last year at the Geneva Motor Show, the prancing horse brand unveiled the significantly updated replacement for the FF and named it the GTC4 Lusso, reviving a name last used on the 1971-72 365 GTC4. Now, at this year's Geneva show, the Maranellites lifted the silk on a revised version of their omnipotent F12 Berlinetta and rechristened it the 812 Superfast, utilizing a suffixed moniker that originated in a proto-muscle car Enzo concocted back in 1957 when he stuffed a big V12 into a car originally meant for a smaller one and baptized it the 4.9 Superfast. At least the capitalization and compound wording in this honorific finally makes sense, giving respite to the Spell Check programs worldwide. "The name Superfast belongs to the Ferrari history," says Flavio Manzoni, head of the Ferrari Design Center. "When we finish a project, we always create a list of names and this one just seemed to fit." Ferraris have always, or almost always, been lovely objects to behold, but it still amazes us that a brand that so often nails its design language the first time around finds means and actualization for improvement when it comes time to spruce things up. We were obsessed with the appearance of the first FF, but the heart-stopping GTC4 Lusso wiped our memory of that hatchback like some process out of a Philip K. Dick story. Similarly, this 812 Superfast obviates our Total Recall of its predecessor, and not just because the slightly larger naturally-aspirated V12 in its aquiline front makes nearly 60 more horsepower. The design is less encumbered that of the F12, with smoother flow, fewer disruptive channels and voids, and additional streamlining that give the new car a more balanced profile and proportion. A thicker, and more sailing C-pillar in the back also raises the tail, providing an elegant and functional (Super)fastback design that echoes famed Ferraris of yore. "Compared to its predecessor, we have made huge steps in performance, so it is necessary to develop very strong aerodynamic solutions or the car wouldn't reach our objectives," says Manzoni. "The rear reminds us of the Daytona, not because of the shape but because of the form. The cut volume at the tail is typical of many Ferraris of the Sixties, like the 250 Lusso, the 275 GTB4, the 288 GTO.