#CarNews: Ferrari valued at almost $1 bln for IPO

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Fiat Chrysler Automobiles is planning a US initial public offering of Ferrari shares that values the luxury Italian sports car maker at nearly $10 billion, according to US regulatory filings Friday.

Ferrari, of the celebrated “prancing stallion” logo, will make its first steps on Wall Street after years of rumors, as FCA says it will sell 17.17 million shares, or about 9.0 percent of its capital, at a price of $48-52 a share, the documents showed.

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