Ferrari files for NYSE listing

Fiat Chrysler is aiming to raise funds for future products by listing Ferrari on the New York Stock exchange. One key outcome is expected be the relaunch of the Alfa Romeo brand.

The move will involve the creation of new company called Ferrari NV. Around 80 percent of its shares will be distributed to current Fiat Chrysler shareholders and the remaining 20 percent will be split equally between Piero Ferrari, son of Enzo Ferrari, and investors.

If Ferrari NV is valued at about £8bn – in line with Fiat Chrysler chief Sergio Marchionne’s prediction of “over £7 billion” (which analysts say is 60 percent of the Fiat Chrysler group’s entire value) – the selloff would raise £800m in cash.

While the group’s debt is said to rack up £1.6bn of interest payments annually, Marchionne remains firmly focused on relaunching the historic Alfa Romeo marque. Eight new Alfa models are planned in the coming three years, each aiming to attract premium profit margins.