The Ferrari initial public offering is now expected to be complete between the second and the third quarter of 2015, Fiat Chrysler Automobiles Chief Executive Sergio Marchionne told reporters in Italy.
FCA announced last month it planned to spinoff Ferrari from the group, selling a 10% stake via a public offering and distributing the rest of FCA’s stake in Ferrari to its shareholders. The Ferrari IPO is expected to raise $5 billion to reduce FCA’s debt and bolster the company’s balance sheet.
"If they're crooks it's because corrupted lawmakers all around the world allow them to behave like that"
Exactly and correct, and it also includes the type of people in our National Highway Traffic Safety Administration corruption at the best. Now with a fine of 105m against FCA for cars made long before Chrysler takeover and approved by the same NHTSA, what about GM, Ford? FCAU common shareholders will be the losers here.