Ferrari IPO float may be more than 10%
Fiat Chrysler Automobiles (FCA) could decide to boost its float for the IPO of its luxury car subsidiary Ferrari beyond the 10% presently planned, Italian language daily Milano Finanza reported. The report cited FCA CEO Sergio Marchionne who said that the float could be increased from 10% to 20% in order to satisfy expected high demand.
The item also cited Marchionne as noting that FCA is studying whether to create a holding above Ferrari that would be listed rather than the operating company. The report said that the holding would be headquartered in the Netherlands while the listing would take place on the NYSE.
Marchionne noted that if the holding is created, the operational activities of Ferrari would continue to be in Italy with taxes being paid there.
Source Milano Finanza daily edition