2009 Ferrari F430 Scuderia Coupe 2-door 4.3l on 2040-cars

Auto blog

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.

Race Recap: 2016 Austrian GP is mishaps from start to finish

At the 2015 US Formula 1 Grand Prix, rain mixed up the grid and a first-lap incident cast the die for the race. The Austin, Texas event made highlight reels for those reasons and because it decided the Driver's Championship. At the 2016 Austrian F1 Grand Prix, rain mixed up the grid and a last-lap incident cast the die for the race. The Spielbergring race will feature in this year's highlight reel because it might force Mercedes-AMG Petronas to make some hard decisions about the rest of the season. For the first time this season, Lewis Hamilton converted pole position into a lead through Turn 1, and began slowly pulling away from the field. Teammate Nico Rosberg started from sixth because of a gearbox penalty, but was up to third when he pitted on Lap 11. Mercedes normally pits the lead driver first, in this case being Hamilton, but Mercedes wanted to get Rosberg ahead of the two Ferraris. Hamilton pitted on Lap 22, emerging behind Rosberg because of a slow stop. Sebastian Vettel led the race for Ferrari on Lap 27 when his right rear tire exploded coming down the start-finish straight – an eerie reminder of the 2015 Belgian Grand Prix. The Safety Car rolled out, yet when racing resumed Rosberg stayed ahead. After the two Mercs came in for second stops everyone expected Hamilton to lead, but Hamilton had messed up his in-lap and lost a cumulative 3.3 seconds during his actual stops compared to Rosberg's pit-stop times. The Brit remained second. Hamilton chased his teammate for the final 15 laps. At the beginning of the last lap Rosberg messed up Turn 1 and Hamilton closed in. Rosberg took the inside line into Turn 2 as Hamilton pulled up on the outside, then Rosberg appeared to drive straight on as if he simply wasn't going to turn. Hamilton turned in, colliding with Rosberg and driving over the German's front wing. By the end of Turn 2, Hamilton had the lead and Rosberg had a broken car. The Brit won, the German puttered home to finish fourth. The incident promoted Max Verstappen to second and Kimi Raikkonen to third. Verstappen scored his second podium for Red Bull after his victory in Spain. Conversely, Raikkonen's third place for Ferrari was more gifted scraps for the scuderia. Daniel Ricciardo came fifth in the second Red Bull, Jenson Button delivered a terrific sixth for McLaren- Honda, Romain Grosjean got Haas back in the points, Carlos Sainz, Jr. secured eighth for Toro Rosso, and Valtteri Bottas in ninth for Williams.

Weekly Recap: Ferrari, Ford and Porsche power up for Geneva

Monday was Groundhog Day. Tuesday, apparently, was Sports Car Day. The Ferrari 488 GTB, the Ford Focus RS and the Porsche Cayman GT4 all debuted within hours of each other ahead of their rollouts at the Geneva Motor Show. Three sporty machines, three vastly different approaches – and a lot of implications for enthusiasts. That's a day worth repeating. It also illustrates the opportunities automakers see in the performance market, which is expected to grow in the coming years. Ford estimates the segment has expanded 14 percent in Europe and surged 70 percent in North America since 2009. The Detroit Auto Show was evidence of this, and performance cars of every stripe debuted, including the Acura NSX, Ford GT, Alfa Romeo 4C Spider and several others. This isn't a fad. Performance cars aren't going away. The question is why? Stricter CAFE standards are looming in the United States, as are tighter emissions regulations in Europe. And no one expects gas prices to remain low in America. None of this matters for sports cars, and automakers are increasingly using them to elevate their images. That's why Dodge rolled out two 707-horsepower Hellcats last year. It's why Ford has decided to resurrect the GT for road and track. It's why in the depths of bankruptcy, General Motors continued work on the Chevrolet Corvette Stingray, not to mention the Z06. "Great brands are made one car at a time," Ford of Europe president Jim Farley said at the reveal of the Focus RS. Still, companies make those cars for different reasons. View 5 Photos Mainstream brands like Ford and Dodge want to build cars that get people talking, excite their bases and drive more potential customers into the showroom. They probably don't buy a Focus RS or a Hellcat, but suddenly the regular Focus hatch looks a bit hotter, and that V6 Charger seems to be just a touch more muscular. The halo of performance is alive and well in the eyes of automakers and their customers. "It's one of the most effective catalysts for ingenuity and innovation," said Joe Bakaj, vice president of product development for Ford of Europe. That also leads to a trickle-down effect. Some of the technologies inevitably make their way to other products. It's hard to think the new all-wheel-drive system in the Focus RS that distributes torque front to rear and side to side won't be used in other vehicles. It's different for Ferrari and Porsche.