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FCA launches Ferrari IPO

It's been a long time coming, but the moment is finally upon us: Ferrari is hitting the stock market. Its parent company Fiat Chrysler Automobiles has announced the launch of Ferrari's initial public offering – almost exactly a year to the day since FCA launched its IPO (pictured above). And with it, FCA is starting the process of separating the Maranello-based exotic automaker and racing team away from the rest of the Italian-American industrial empire. The plan filed with the US Securities and Exchange Commission (SEC) calls for FCA – which owns 90 percent of Ferrari – to float 17,175,000 common shares on the New York Stock Exchange. That amounts to nine percent of Ferrari's common shares. Another 1,717,150 common shares (equal to 1 percent) will be offered to the underwriters of the IPO. The remaining 80 percent interest in the Prancing Horse company will be separated from the rest of FCA and distributed to the parent company's shareholders – of which Exor, the Agnelli/Elkann family's holding company, is the largest, holding a stake of about 30 percent. Currently registered as New Business Netherlands NV, the company is soon to be renamed Ferrari NV. And while it's nominally based, like its (soon to be former) parent company, in the Netherlands, there's no reason to anticipate at this point that Ferrari will move its operating headquarters away from its current and historic home in Maranello, on the outskirts of Modena in Italy's "supercar valley." The IPO is expected to be priced at or around $50 per share (give or take a couple of bucks), which would value the company at around $10 billion. Trading won't actually commence, however, until all the SEC filings are complete. At that point, the company will be listed on the NYSE under the symbol RACE. And whether you yourself are actually interested in trading in Ferrari shares or not, that could be one of the best parts of the announcement. FCA Announces Launch of Ferrari Initial Public Offering LONDON, October 12, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. (NYSE: FCAU / MI: FCA) ("FCA") and its subsidiary New Business Netherlands N.V. to be renamed Ferrari N.V. ("Ferrari") announce today that Ferrari has launched its initial public offering ("IPO").

Race Recap: 2014 Malaysian F1 Grand Prix [spoilers]

The Malaysian Grand Prix is always one of the jokers on the Formula One calendar: you know it's going to rain during the weekend, but you don't know when. This year it began during qualifying, the dammed up clouds over the Sepang track dumping their reservoirs just before Q1 and causing a 50-minute delay.
The conditions helped Infiniti Red Bull Racing close the gap on Mercedes AMG Petronas and split the Silver Arrows cars, Sebastian Vettel lining up in second on the grid behind pole-sitter Lewis Hamilton, ahead of Nico Rosberg. Fernando Alonso recovered from a suspension-damaging incident with Toro Rosso driver Daniil Kyvat to take fourth, followed by the second Red Bull of Daniel Ricciardo in fifth, then the off-form Kimi Räikkönen in sixth in the second Ferrari, Nico Hülkenberg in the Force India, star rookie Kevin Magnussen in the first McLaren ahead of Jean-Eric Vergne in the Toro Rosso, and Jenson Button in the second McLaren finishing up the top ten.
After that, though, the clouds decided they were done with F1. Save a few drop at the final corners during the race, the track stayed completely dry. And except for the beginning and the end, for the most part, so was the race.

Race recap: 2016 Belgian Grand Prix is a dozen angry laps

The calm of the Formula One summer break ended with the tumult of the Belgian Grand Prix. The first two days included unusual tire pressures and grid penalties; Mercedes-AMG Petronas' Lewis Hamilton started 21st because of a 55-place grid penalty for engine and gearbox changes, McLaren's Fernando Alonso started 22nd due to a 60-place penalty for the same offenses. The bedlam rolled right into what was effectively an 11-or 12-lap race. Mercedes driver Nico Rosberg took off from pole and the cameras barely bothered with him until he took the checkered flag 44 laps later. Red Bull's Max Verstappen bogged from second on the grid, got swallowed by Ferrari's Sebastian Vettel and Kimi Raikkonen on the way to Turn 1, then attempted to recover by sticking his Red Bull's nose between Raikkonen's sidepod and the apex at the first corner. Vettel, who didn't see Verstappen, turned into La Source leaving only enough room for Raikkonen. Three cars don't fit in a space for two cars. Vettel spun, Raikkonen and Verstappen clobbered one another and all three drivers had to pit for repairs. Force India's Nico Hulkenberg zig-zagged his way into second ahead of Red Bull's Daniel Ricciardo, Williams' Valtteri Bottas, and Sergio Perez in the second Force India. On Lap 6 Kevin Magnussen lost his Renault at Raidillon at the top of Eau Rouge and flew backward into an enormous crash. Magnussen escaped with just a cut ankle. The Safety Car paraded the field for four laps before officials red flagged the race to repair the barriers. When racing resumed on Lap 10, Rosberg led Ricciardo, Hulkenberg, Alonso, and Hamilton. Ricciardo stayed ahead of Hamilton to keep second place at the end of the race, Hamilton easily got around Alonso and Hulkenberg to lock up third. Hulkenberg – who'd given up second to Ricciardo by pitting during the Safety Car period – earned another career-best fourth position ahead of teammate Perez in fifth, followed by Vettel and Alonso on recovery drives, Bottas, Raikkonen, and Felipe Massa taking 10th in the second Williams. Rosberg reignited his Driver's Championship charge with the victory, closing to nine points of leader Hamilton. We could argue that Hamilton had an equally good day by driving from 21st to third, limiting his loss to only 10 points. About that Verstappen, though... We've seen far more experienced drivers attempt the same move Verstappen made into Turn 1 – Raikkonen on Bottas in Russia in 2015, for instance.