Ferrari Races to Go Public with a $10 Billion Valuation
Business + Economy

Ferrari Races to Go Public with a $10 Billion Valuation

DENIS BALIBOUSE

Fiat Chrysler Automobiles is offering more than 17 million shares of Ferrari stock, as it gears up for its IPO.

Ferrari will park on the New York Stock Exchange under the ticker symbol, RACE.

The value of the newly-public Italian maker of exotic, sexy sports cars is expected to reach $9.8 billion.

Earlier estimates suggested Ferrari's value could climb as high as $12.4 billion.

Related: 10 Hottest New Cars for 2015

FCA and Ferrari have priced their offering at between $48 and $52 per share, potentially raising $894 million in the IPO.

A Ferrari IPO has been rumored for years. Last year, longtime Ferrari Chairman Luca di Montezemolo stepped down, replaced by FCA CEO Sergio Marchionne. 

It was suspected that the two men had clashed over differing visions of Ferrari's future. Montezemolo wanted to preserve Ferrari's exclusivity and hold production at around 7,000 cars per year. 

Marchionne wants to build more Ferraris, to satisfy a global demand for high-end luxury products. Ferrari, with cars that start at $200,000, definitely fits that description.

This article originally appeared in Business Insider. Read more from Business Insider:

Elon Musk tries to smooth the waters after his scathing remarks about Apple
Twitter will have big layoffs next week
Uber has launched a middle-of-the-road service for people who want to be quasi-ballers