Luxury Sports-car Brand Ferrari Plans IPO In New York

Fiat Chrysler Automobiles N.V. said Thursday its Ferrari unit has filed for an initial public offering. The number of shares and the price range for the proposed offering have yet to be set, but the offering isn't expected to exceed 10% of the outstanding common shares, said Fiat in a statement. Ferrari will seek to list its common shares on the New York Stock Exchange. UBS Investment Bank, BofA Merrill Lynch and Banco Santander are acting as joint bookrunners for the offering.