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Ferrari to list stock on Italian exchange

Ferrari announced Monday it will list its stock on the Mercato Telematico Azionario – the main section of the Borsa Italia stock exchange in Milan. The news comes a little over a month after the exotic automaker launched its initial public offering on the New York Stock Exchange. The company's stock listings are the culmination of a long process that dates to the merger of Fiat and Chrysler, if not earlier. Once the two auto giants came together, they merged their brand portfolio under one umbrella, incorporating the Dodge, Ram, Jeep, Alfa Romeo, and Maserati brands, as well as Mopar, Lancia, Fiat Professional, and the Fiat and Chrysler brands themselves. Ferrari, however, was deemed a separate entity, even after FCA chief Sergio Marchionne wrested control of the Maranello-based outfit from longtime chairman Luca di Montezemolo. Almost exactly one year after FCA launched its IPO on the NYSE, Ferrari did the same. Nine percent of its common shares were listed under the symbol RACE. Another one percent was offered to the listing's underwriters. Ten percent remains in the hands of Enzo Ferrari's family, led by his son and company vice-chairman Piero Ferrari. And the remaining 80 percent will be distributed among FCA's shareholders. FERRARI APPLIES TO LIST SHARES ON MTA Ferrari N.V. (NYSE: RACE) and FE New N.V.1 announced today the filing of the application for the listing, in connection with the planned separation of Ferrari N.V. from Fiat Chrysler Automobiles N.V., of the common shares of Ferrari on the Mercato Telematico Azionario organized and managed by Borsa Italiana S.p.A. Maranello, 23 November 2015 1As part of the separation, Ferrari N.V. will be merged into FE New N.V. which immediately before the merger will hold the shares in Ferrari N.V. now held by Fiat Chrysler Automobiles N.V. FE New N.V. will then be renamed Ferrari N.V., and its common shares will be listed on the MTA and the New York Stock Exchange.

Race Recap: 2014 Australian Grand Prix quietly opens the new F1 era [spoilers]

The first chapter of the new Formula One era has been written with the conclusion of the Australian Grand Prix, and it included a rookie rush, some resurgent and some unsurprising performances, the sound of screeching tires and a couple of firsts.
Outside predictions as to the pace of the Mercedes AMG Petronas team were proved as soon as the Friday practice sessions, with Lewis Hamilton recovering from an engine sensor fault in the first session to top the second, followed by teammate Nico Rosberg. That didn't change come the start of qualifying, not even the rain slowing down the Silver Arrows, Hamilton taking pole as the last man across the line in Q3.
The surprises were in the order behind him, with new Infiniti Red Bull Racing man Daniel Ricciardo grabbing second spot just three-tenths of a second down on Hamilton. Ricciardo not only looked like he belonged at the front of the grid the entire weekend, but he seems to have reversed the Mark Webber jinx: four-time World Champion Sebastian Vettel had car issues and didn't get into Q3, having to settle for 13th on the grid.

Ferrari 400 Superamerica leads $60M RM Sotheby's sale at Amelia Island [w/video]

Just last month, two of the most venerated auction houses came together under one roof. And this past weekend, the newly christened RM Sotheby's held its first event at the Amelia Island Concours d'Elegance, selling a record $60 million worth of classic automobiles. The event's highlight was surely the gorgeous 1960 Ferrari 400 Superamerica SWB Cabriolet pictured above. Resplendent in dark green over a red leather interior, this particular Superamerica set a record for that model when it sold for $6.38 million, with proceeds going towards a children's education charity. That price far outstrips the record $4 million that Gooding & Co. got for that sleek white Aerodinamico coupe in Scottsdale earlier this year. Among the other seven-figure items were of course some other Ferraris, including a rare '72 Daytona Spider that went for $3.3 million, along with a smattering of Jaguars, Mercedes, Alfas, Lamborghinis and Bugattis. A rare 2007 Ferrari 599 GTB Fiorano with a manual transmission sold for nearly triple its estimate at $682,000, and the Daytona-winning, Castrol-liveried 1988 Jaguar XJR-9 sold for over $2 million. Of course RM Sotheby's wasn't the only company holding an auction during the Florida concours. But as the event's official auction house, it brought in more than all the other participating auctioneers combined, setting a record for Amelia Island in the process. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.