Fiat Chrysler has already held its IPO for Ferrari – selling off nine percent of the automaker’s common shares on the New York Stock Exchange under the undeniably cool trading symbol ‘RACE’. Now the automaker has also applied to list its stock on the Mercato Telematico Azionario Italian stock exchange in Milan as well, which is also a part of the London Stock Exchange Group.
“Ferrari N.V. (NYSE: RACE) and FE New N.V. announced today the filing of the application for the listing, in connection with the planned separation of Ferrari N.V. from Fiat Chrysler Automobiles N.V., of the common shares of Ferrari on the Mercato Telematico Azionario organized and managed by Borsa Italiana S.p.A,” a statement released by Ferrari in regards to the listing read.
In addition to the nine percent stake listed on the NYSE earlier this year, Fiat Chrysler offered one percent of Ferrari’s stock to the listing underwriters and will distribute the remaining 80 percent of shares to Fiat Chrysler share holders next year. The remaining 10 percent of the supercar manufacturer’s stock will stay in the hands of the Ferrari family and Enzo Ferrari’s son Piero Ferrari.