Despite recent rumours, there is no initial public offering (IPO) on the cards at Italian supercar maker Ferrari.

Chairman Luca di Montezemolo told the Sueddeutsche Zeitung newspaper: “There is nothing on the agenda. And we are not planning anything.”

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He added that Fiat, which owns Ferrari, “does not need any money at the moment, they are doing fine. If you ask me what will happen in 10 years: no idea. But at the moment it is not on the agenda.”

Sources told the Reuters news agency last September that several investment banks had approached Fiat with a proposal to list Ferrari on the Hong Kong stock exchange.

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