Ferrari, the Italian luxury sports car manufacturer spun out of Fiat Chrysler, filed on Thursday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise more than $1.0 billion.
The Maranello, Italy-based company, booked €2.8 billion in sales for the 12 months ended March 31, 2015, plans to list on the NYSE. It has not selected a ticker. UBS Investment Bank, BofA Merrill Lynch and Santander are the joint bookrunners on the deal. No pricing terms were disclosed.
