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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").

Vettel wins in Hungary as Ferrari finishes first and second

Sebastian Vettel won a tense Hungarian Grand Prix on Sunday in a Ferrari one-two that stretched his championship lead to 14 points after Mercedes rival Lewis Hamilton sportingly surrendered third place to his team mate. The German, savoring his fourth win of the season and 46th of his Formula One career, took the chequered flag 0.9 seconds ahead of team mate Kimi Raikkonen. The Finn had looked faster than Vettel for most of the afternoon. "I'm over the moon, that was a really difficult race," said the winner, who had to wrestle with a skewed steering wheel on a sweltering afternoon at the Hungaroring and had no room for error. Hamilton finished fourth after slowing down on the last lap and allowing Finnish team mate Valtteri Bottas to go past, despite the loss of vital points to the Briton's championship challenge. Bottas had let Hamilton through on the 45th of the 70 laps, on the assurance that his team mate would hand back the place if he could not overtake the Ferraris, and the triple champion duly kept his word. "Really thanks to Lewis for keeping the promise in the end and letting me by," said Bottas. "I don't think every team mate would have swapped back." Hamilton, whose radio was malfunctioning for some of the race and would have had more of a chance had he got past Bottas earlier, said he had done what he had to do. "It's tough in the championship but I'm a man of my word," he said. "I did say that if I can't overtake them I would let him back through." On a circuit where overtaking is notoriously hard, the top five all finished in their starting order with Max Verstappen fifth for Red Bull. The Dutch teenager was handed a 10-second stop and go penalty for colliding with his Australian team mate Daniel Ricciardo on the opening lap. The impact ended Ricciardo's race, with the car stranded on the track and fluid leaking from the broken radiator, and brought out the safety car. "It's not on. It was amateur to say the least. It's not like he was trying to pass – there was no room to pass," said an angry Ricciardo. "I don't think he likes it when a team mate gets in front. You've got the whole race to try and repair the mistake but the pass was never on. It wasn't even a pass, it was a very poor mistake." Fernando Alonso, who celebrated his 36th birthday on Saturday, gave struggling McLaren their best finish of the season so far by taking sixth place and also setting the fastest lap of the race.

2013 Ferrari FF [w/video]

The World's Fastest Four-Passenger is Frickin' Fabulous
"I miss my mommy."
Those frightened words floated from the mouth of a five-year-old boy strapped snugly into a booster seat in the backseat of the Ferrari FF I was piloting. Moments earlier, his father had allowed me to take him, and his two brothers, for their first ride in a supercar, and I had apparently failed miserably.