1989 Ferrari Testarossa Base Coupe 2-door 4.9l on 2040-cars

Auto blog

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.

2015 Ferrari 458 Italia to go turbo?

Forced induction has definitely hit trend status when it comes to performance cars. Whether it's the supercharged Hellcat V8 in the Dodge Challenger SRT, the latest twin-turbocharged M3/M4 or even the entry-level speed of the Ford Fiesta ST, if you want the fastest car in any given segment, in all likelihood it has a turbo or supercharger. Even Ferrari hasn't avoided the bandwagon with the latest iteration of the California that replaces the original 4.3-liter V8 with a 3.9-liter turbo V8 offering 552 horsepower for more power and better fuel economy. If recent rumors prove true, it might not be the only Prancing Horse to use this engine for long.
According to Car in the UK, Ferrari is planning to boost the 3.9-liter V8 up to around 670 hp and place it in a refreshed 458 Italia in 2015. If true, that is an astounding increase over the version from the latest California and a roughly 70-hp improvement over the current 458 Speciale.
The extra power would come with a serious challenge of how to maintain the 458's delicious exhaust note. Turbocharged engines are often quieter than their naturally aspirated counterparts, modern Formula One cars serving as a prime example. The California may get a pass because it's more of a GT, but the 458 is the brand's bread-and-butter sports car. It needs to sound like a proper Ferrari V8. However, Car claims Maranello is a step ahead and has a complicated exhaust layout - as is the case with the California T, we might add - ready to keep much of the characteristic yelp in tact.

Are you the Enzo-succeeding Ferrari F150?

We've brought you no end of spy shots and rumors surrounding the new Ferrari hypercar, often referred to as F150, that is destined to succeed the Enzo as the Italian maker's top offering. Now, one new and highly speculative rendering has come to light whose origins are interesting, even if the final product is still pretty much a stab in the dark.
The rendering you see here was created by an organization called goldRush Rally, which published the image on its Facebook page. The claim is that this rendering was based on a "snapshot of a plaque with a sketch of the new supercar." We certainly won't speculate as to what kind of "presentation" a luxury-rally throwing company like gRR would be invited to - to say nothing of why there was a plaque bearing the image of a supercar that has been so well cordoned off from public eyes - but we'll roll with it because we love the internet.
Even if the story is completely true (big if), we're fairly certain the details of the rendering miss in some places relative to the real deal car. The front wheel wells, for instance, seem comically thin around the top, and hold wheels that are way out of proportion with the spy shots and videos we've seen so far. More promising, however, is the detailing of the door and sill of the F150 - portions of the car that have consistently been covered in spy shots.