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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.

1962 Ferrari 250 GTO for sale in Germany at $64 million

Prices keep climbing for the Ferrari 250 GTO with virtually no end in sight. In 1969 one sold for just $2,500, but by the 1980s they were trading for hundreds of thousands, then millions, then tens of millions to the point that the last last year, one was reported to have changed hands at $52 million. But now there's a GTO for sale in Germany that could eclipse even that gargantuan price tag.
Ferrari made 39 examples of the 250 GTO between 1962 and 1962, and the item listing on mobile.de doesn't give much in the way of specifics as to which exactly we're looking at. But last we checked, there were only two GTOs in Germany, and the other one was silver. That leaves chassis number 3809GT, which was delivered new in '62 to Switzerland and participated in numerous endurance races and hillclimb events throughout the early 60s. 3809GT has been owned until now by one Hartmut Ibing, who bought it in 1976 when values were in the tens of thousands, not tens of millions. Given how his asset has appreciated so dramatically, and with less than 10,000 miles on the odometers over 52 years, we could understand how Ibing would want to cash out.
Of course we could be mistaken and we could be looking at an entirely different example - the vast majority were, after all, painted red and fitted with blue upholstery just like this one - but either way, we're looking at a price tag of 47.6 million euros. That's nearly $64 million at today's rates, inclusive of Germany's 19 percent VAT rate that adds a staggering $10 million in taxes to the pre-tax price of 40 million euros, which comes in under $54 million but would still be the most ever paid for a GTO (or really, just about any car ever made).

Ferrari delivers one-off F12 SP America in New York

Ferrari's Special Projects division has apparently been keeping busy. We're sure that we don't even see half of the special one-offs Maranello's customer skunkworks unit produces, but we've been seeing quite a few lately.
The last one that popped up on our radar screens was the F12 TRS revealed at the recent Ferrari Cavalcade in Sicily, and now it seems that the Prancing Horse marque has delivered another. It's similarly based on the F12 Berlinetta, but instead of taking its inspiration from the 250 Testa Rossa with a unique roadster body-style, the F12 SP America pictured here seems to pay stylistic tribute to the 250 GTO - evident in the trio of nostrils in the nose, the unique side vents, the slates behind the windows and the restyled rear haunches that meld into an integrated rear spoiler.
This unique take of the F12 was delivered to its assuredly wealthy commissioner by Wide World Ferrari Maserati in Spring Valley, NY, which tells you as much as the chosen model name that this particular one-off is staying right here in the United States.