Fiat Chrysler Automobiles CEO and Canadian-passport holder Sergio Marchionne confirmed the company has filed the paperwork to spin off Ferrari into its own company, with an IPO planned for the New York Stock Exchange this fall. That could allow Ferrari fans to own at least a part of Ferrari, if not a Ferrari itself.
The price range or stock symbol has not been announced as of this writing, but the move will not separate FCA from the exotic sports car company entirely, or its massive racing program, because FCA plans to only o ffer up a 10 per cent stake in the new company initially.
No word yet how this could impact Ferrari’s Formula One or other racing efforts, but the IPO is set to take place in October, right after the company publicly debuts its 488 Spider (and just maybe IPO or 2016 F1 details) at the Frankfurt Auto show in September.
