Ferrari pushing for a $12.4B IPO

Posted online October 12, 2015 | 11:37 am

Luxury car brand Ferrari is slated to go public in the coming days and could nab a valuation of around $12.4 billion, unnamed sources told Bloomberg Business.

The IPO would make founder Enzo Ferrari's son, 70-year-old Piero Ferrari, a billionaire. Derived from his 10 percent stake in the company, Bloomberg reports he would have a fortune of $1.3 billion.

Ferrari plans to offer 17.2 million shares, or 9 percent of the company, for $48 to $52 each.

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