About to IPO Ferrari plans to ramp up annual production by 30% to 9,000 vehicles by 2019. The planned output rise was contained in a regulatory filing ahead of Ferrari's planned IPO on the New York Stock Exchange later this month.
The company said in the filing it reached this decision in response to "growing demand in emerging markets and from demographic changes as the size and spending capacity of our target client grows."
Go deeper with GlobalData
Ferrari said it will "maintain a reputation of exclusivity and scarcity among purchasers of our cars and deliberately monitor and maintain our production volumes and delivery wait times to promote this reputation." However, a 7,000-unit annual ceiling for Ferrari was supposedly set by former boss Luca di Montezemolo as a way to maintain Ferrari’s exclusivity.
Ferrari has said it will float 17.2m shares at $48-$52, which could raise around $1bn. The offering is around 10% of the company. The Ferrari family owns 10%, with Fiat Chrysler owning the remaining 80%.
Fiat has announced that it will distribute the remaining 80% to shareholders early next year.
See Also:
The IPO is planned for later this month.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
