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Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.

Ferrari testing 458 successor in the snow?

It may not seem so long ago that Ferrari introduced the 458 Italia. But it's been on the market a solid 5 years since its launch in 2009, which makes it not only the oldest model in the company's lineup, but one of the oldest in its segment, the Lamborghini Huracan and McLaren 650S just having been launched in the past couple of months. So while a solitary Ferrari playing in the snow might otherwise seem like little more than an unlikely place for it to be, its chronology suggests the crew from Maranello could be up to something more.
The white 458 captured by our spy photographers in Northern Sweden appears to have something going on around its wheel arches. Aside from the panel gap that's taped up between the quarter panel and rear fender in front of the rear wheel arch, there appear to be some modifications around the front wheel arch. Just what they're for, we don't know, but their presence suggests something's up.
The test mule pictured here could be simply testing some new components, for whatever application, but if this is indeed a prototype for the 458's replacement, we'll probably start seeing more of these from here on in before the finished product comes around within the next couple of years - by which time the 458 will be a good seven years old, longer than the F430 or 360 Modena before it were on the market.

Need For Speed Rivals announced for Xbox One and Playstation 4 [w/video]

Fresh from critical praise for the last installment in the series, Need For Speed: Most Wanted, Electronic Arts has formally announced that Need For Speed Rivals will be the next title in the series. Set to hit stores on November 19, the game will also be the first Need For Speed to be available on next-generation consoles Xbox One and Playstation 4, as well as the current Xbox 360 and Playstation 3.
The "rivals" in question for this NFS title are, of course, cops and street racers - nothing new there - but the gameplay is apparently getting a makeover. Players may choose to be racers, and live the life of evading cops, gaining infamy, videoing their slipperiest moves and earning Speed Points. They might also choose to play on the side of law enforcement; attaining higher ranks and faster police cars with more and increasingly challenging busts.
One big innovation in Rivals will be the use of a new play system called AllDrive. The concept is that a player can seamlessly move from playing in single player mode, to playing online with friends, without having to wait in a lobby or move through a menu interface. The game will merge one's play from single to multiplayer as your friends across the web go on and offline, and you can choose to interact with them or not, as you like.