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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").

Ferrari Enzo successor caught testing again

Although we're still not really sure what Ferrari plans to call its long-awaited successor to the Enzo, we're certain that this is going to be one mean car. We've heard that it will be called the F150, F150 Italia and even the F70 over the last year and a half. Regardless of its name, this guppy-faced prototype you see above is Ferrari's answer to the McLaren P1 and Porsche 918 Spyder with a rumored 900-horsepower hybrid powertrain.
Since the last time we saw this car testing, the only difference appears to be that the exhaust outlets now may be closer to production form, with dual pipes on each side sitting up higher in the fascia. Aside from that, these shots are much clearer and at a better angle allowing us to get an idea of what the final product might look like. We do see some of this car's details such as the headlight placement and shape similar to the 458 Italia and the massive brakes with drilled carbon ceramic rotors.
No word as to when we might see the production version of the car, but Ferrari did tease a couple photos of it last month and is much further along than spy shots we saw less than a year ago.

Chris Harris brings together the 918 Spyder, LaFerrari, and P1

The Porsche 918 Spyder, Ferrari LaFerrari, and McLaren P1 show that a hybrid powertrain can make for blistering performance despite its electric assist. This trio doesn't arrive on track together very often, but Chris Harris assembled these three stars at the Portimao circuit for a nearly hour-long demonstration of their amazing capabilities. So, which one is quickest around the track? Harris provides an answer with in-car video of all three contenders. His team also goes out of its way to even the playing field by sourcing tires independently from Pirelli for the P1 and LaFerrari. With the technical part out of the way, Harris can start having fun by doing his usual slides during the driving comparison. Tiff Needell and Marino Franchitti also eventually show up to provide the perfect recipe for a track battle in these hypercars. If you don't have the time, skip about 14:25 into the clip just to see the lap times. However, those numbers only tell a tiny part of the story. The whole video is definitely worth a watch.