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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.

That aluminum-bodied '69 Ferrari Daytona barn find sold for $2.2M

Barn finds are a strange thing. The idea that some beautiful or rare car can simply be locked away and forgotten about seems unthinkable to many enthusiasts. Still, there's entire communities and several television shows dedicated to unearthing these vehicles. One of the most notable finds in recent memory was the sole road-going aluminum-bodied 1969 Ferrari 365 GTB/4 Daytona in existence. The car just sold for about $2.2 million at an RM Sotheby's auction this past weekend. According to the auction house, this is the 30th of just over 1,200 Ferrari Daytonas ever built. This particular car was found stowed away in Japan, having sat collecting dust and dirt for nearly 40 years. While five aluminum-bodied Daytonas were built for racing, this is the only known street car with aluminum body panels. According to an evaluator, the engine and transaxle are both numbers matching. The odometer reads 36,390 kilometers, or about 22,611 miles. That number is believed to be accurate. All the aluminum body panels wear the correct Scaglietti markings. This car has Rosso Chiaro paint over Nero leather (red over black). Other options include Plexiglas headlamps and power windows. The interior is said to be in surprisingly good shape. The car sold for just more than its initial estimate. Let's hope the new owner gets it back into running condition. Related Video: Featured Gallery 1969 Ferrari 365 GTB/4 Daytona Berlinetta Alloy View 25 Photos News Source: RM Sotheby's Ferrari Auctions Coupe Classics

Marchionne's FCA-GM merger might come after Ferrari spinoff

Sergio Marchionne is continuing to rumble about working out a merger with General Motors, but don't expect anything big to happen before at least early next year. That's because Marchionne would likely wait for the Ferrari spin-off to be complete before beginning his next big deal, according to Automotive News. While the Ferrari IPO on the New York Stock Exchange is expected in the coming weeks, that only concerns 10 percent of the shares. The remaining 80 percent of stock is being distributed among shareholders in 2016. Piero Ferrari holds the final 10 percent with no intention to sell. This strategy allows FCA to claim 80 percent of the Prancing Horse's profits in the automaker's 2015 financial results. According to Automotive News, the tactic has other advantages, as well. FCA would be flush with cash by waiting for the spin-off to be complete, and it would keep Ferrari separate if a GM merger actually happens. Marchionne thinks Ferrari could be valued at over $11 billion in the IPO, and it could make FCA $3.3 billion richer when complete. Marchionne believes a combined FCA/GM could sell 17 million vehicles a year globally and rake in $30 billion in earnings. In the CEO's opinion, the two automakers are wasting money by developing components to do the same things on their vehicles. Although, so far the General's top execs are rebuffing all of his advances.