With a number of its exotic sports cars lined up on Wall Street, Ferrari finally made its initial public offering today. Shares were priced at $52 USD ($68 CAN) apiece after the market closed.
There are about 17.18 million shares available to the public, meaning Ferrari has a market capitalization of around $9.8 billion USD.
Sergio Marchionne, the top head of Fiat Chrysler Automobiles (FCA), which owns 90% of Ferrari, attended the event. FCA’s stake will be reduced to 80% after the IPO, however.
Source: CNBC