Ferrari IPO delayed - but not by much
Initially, the offering was scheduled for June, the Journal reported. But evidently Sergio Marchionne, CEO of Ferrari parent company Fiat Chrysler Automobiles (FCA), didn't pay close enough attention to legal counsel when the date was set.
From the WSJ:
A Ferrari IPO has been discussed for years. FCA is doing it now to capitalize on lust and desire for the Ferrari brand, as well as its substantial market value, and to infuse FCA with capital to continue its efforts to compete globally.
The IPO delay is occurring in the context of Marchionne's ongoing insistence that the auto industry needs to reduce redundant development practices, under which multiple car makers create effectively identical engine and and chassis technologies. So far, the FCA CEO's efforts to join with another automaker have been meet with total indifference.