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Ferrari raises $893M, valued at $12B

Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.

Alonso and Rossi to field Ferrari at Le Mans?

The plot thickens and just keeps thickening when it comes to Ferrari's potential return to Le Mans. Antonello Coletta, the head of Ferrari's sports car racing program, first suggested that the new regulations being implemented by the ACO could potentially see the Prancing Horse marque compete in the top-tier LMP1 class. His thoughts have since been echoed by Stefano Domenicali, the head of the Scuderia's F1 team, and by chairman Luca di Montezemolo. And now we're hearing rumors over its potential driver lineup.
Word has it that Ferrari could send Valentino Rossi and Fernando Alonso to pilot its prototype at Le Mans in 2015 or 2016. The rumors were tweeted by Mark Webber (embedded below), who recently left F1 to drive for Porsche at Le Mans - and could amount to pure speculation, to some inside track on hard news or (as is often the case) something in between. One way or another, both Rossi and Alonso are multiple world champions in their fields with strong ties to Maranello and would make a formidable lineup - particularly if paired, we'd venture, with Ferrari's test driver Marc Gené, who won at Le Mans with Peugeot in 2009.
Although the Rossi connection would seem the greater stretch, it might actually make the most sense of the two. With nothing left to prove on two wheels, the seven-time MotoGP champion has been talking about leaving the series. He's test-driven Ferrari F1 cars on several occasions and raced the Ferrari 458 Italia GT3 in the Blancpain Endurance Series last season. The move would be a rare departure for Alonso, however, who has raced almost exclusively in open-wheel single seaters his entire career, and would need to balance the program with his F1 commitments. That is, assuming he doesn't get fed up with chasing after Sebastian Vettel and teaming with Kimi Raikkonen by then.

Touring's rebodied Ferrari F12 Berlinetta Lusso leaks ahead of Geneva debut

The F12 Berlinetta is, in this writer's estimation, one of the best-looking Ferraris and among the most striking automobiles on the road. But its aggressive lines, even the most die-hard fan would have to admit, may not be to everyone's taste. Like that of the customer who likely commissioned Carrozzeria Touring Superleggera to rebody this particular example. Called the Berlinetta Lusso, this coachbuilt F12 recalls a time when the 250 GT – ostensibly the F12's progenitor – was offered in performance-focused SWB guise and as the more elegant Lusso model. It bears certain obvious links to the stock version – particularly the headlights and front air vents – but takes a decidedly more graceful approach that starts to remind us more of a two-seat version of the 612 Scaglietti, especially in that shade of blue and with those wheels. As these images just surfaced, we'll have to hold on for its official debut at the Geneva Motor Show this week to delve into the full details. But chances are that Touring didn't find it necessary to tinker much with the F12's 6.3-liter V12 and its 730 horsepower, much as it has apparently left the interior largely in tact.