Ferrari files for IPO; to be valued at $9.82 bn

Ferrari on Friday filed papers for an Initial Public Offering (IPO) which can value the firm at $9.82 billion after owner Fiat Chrysler sells a 9% stake in the company. The sale will consist of 17.2 million shares at $48 to $52 each. The shares will be trading at the New York Stock Exchange under the symbol RACE.

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