Ferrari's vice president is about to become a billionaire
APFerrari vice president, and future billionaire, Piero FerrariFerrari is selling more than 17 million shares for $52, at a valuation of around $9.8 billion (£6.5 billion).
Investors are already clamouring for a shot at the famous Italian car firm, but if all goes well at the IPO, one man who will be very happy is Ferrari boss, Piero Ferrari.
Ferrari's IPO should make Piero, son of Ferrari's founder Enzo, the world's newest billionaire thanks to the 70 year-old's 10% stake in the company.
According to the Bloomberg Billionaires Index, he'll be worth $1.3 billion.
This fortune will be largely thanks to his substantial stake in the company, topped up with a healthy €280 million (£200 million) of cash Mr. Ferrari received when the company restructured ahead of the IPO.
Piero Ferrari wasn't always in the position to take such a big stake in his father's company. He was born the illegitimate son of Enzo and his mistress Lina Lardi, and was not acknowledged as a Ferrari heir until his father's wife died in 1978.
Ferrari received his stake in his namesake company after his father died in 1988, and, according to Bloomberg has no intentions to sell his stake any time soon.
Luxury brand, luxury roadshow
Before Ferrari debuts on the New York Stock Exchange on October 20, using the ticker symbol RACE, it will embark on a week long roadshow, aimed at persuading investors that Ferrari - which is pitching itself more as a luxury brand than a mere carmaker - to put their money into the company. Obviously, a roadshow is nothing special in the lead up to an IPO, but Ferrari is reinforcing its luxury image with a particularly high class series of events this week.
According to the Financial Times, the roadshow kicks off on Monday with a lunch held in the prestigious St. Regis hotel in New York, and will include events throughout the USA, as well as one at the Dorchester Hotel in London, famous for the vast array of luxury cars often parked outside its front doors.
After its trip into London, the roadshow will head to Ferrari's home in Maranello, Italy, before returning to the USA.