Ferrari has filed for an initial public offering on the New York Stock Exchange as it looks to spin off from Fiat Chrysler Automobiles.

The number of common shares to be offered and the price range for the proposal have not yet been determined, although the opportunity is not expected to exceed 10% of outstanding common shares.

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In connection with the IPO, Ferrari intends to apply to list its common shares on the New York Stock Exchange.

UBS Investment Bank, BofA Merrill Lynch and Banco Santander, are acting for the offering, while UBS is acting as global coordinator.

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