Ferrari Prepares For Stock Market Debut, Pricing Set At $52

Legendary Italian sports car maker, Ferrari, is preparing for its IPO debut on the New York Stock Exchange.  Ferrari will reportedly trade under the ticker symbol “RACE” and is said to have had shares priced on the higher end of the range at $52 a share. However, perspective investors may have trouble acquiring stock in Ferrari, as only 10% of the company will available to public investors.  The reason only 10% of Ferrari is being offered is due to the fact that Fiat Chrysler Automobiles NV owns a whopping 80% of Ferrari. The last 10% is reserved for Piero Ferrari, the heir and son of Ferrari’s founder.  Ferrari’s IPO has certainly bucked the recent sluggish IPO market, which...