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We're getting closer to the Ferrari IPO

Matthew DeBord,AFPJul 24, 2015, 03:31 IST

Flickr/Ben

The maker of the iconic Italian sports car Ferrari officially filed with US regulators on Thursday its plans to launch an initial public offering on Wall Street, parent company Fiat Chrysler Automobiles said Thursday.

FCA announced several months ago that it would spin off its famed sports cars. Now Ferrari intends "to be listed on the New York Stock Exchange," FCA said in a statement.

The offering could value Ferrari at $10 billion.

FCA and UBS, its lead bank on the IPO, haven't yet announced an offering price.

Ferrari is on the verge of a substantial change to to its business as FCA CEO and Ferrari Chairman Sergio Marchionne aims to increase Ferrari production from 7,000 vehicles to as much as 10,000.

Last year, longtime Ferrari Chairman Luca di Montezemolo stepped down amid speculation that he has clashed with Marchionne's goals to seel more exotic sports cars and supercars to the world's growing population of of affluent Ferrari lovers.