The company is being spun off from parent Fiat Chrysler Automobiles. At this pricing, the IPO is expected to raise $890.5 million and value the Italian automaker at $9.82 billion.
This falls inline with the high end of analyst projections which estimated shares to be priced between $48 to $52 per share.
FCA is expected to offer more than 17 million shares or 10% of the company to the public. FCA and its investors will retain 80% of the Modena, Italy-based automaker. Ferrari heir Piero Ferrari will retain the final 10% share of the company founded by his father.
Shares of Ferrari will begin trading on the New York Stock Exchange Wednesday under the symbol RACE.