REPORT: Ferrari could launch its IPO this week

Ferrari could launch its much-anticipated IPO as early as Friday, CNBC reports.

The network cites anonymous sources who say the potential $US1 billion offering could price sometime in mid-October.

The luxury exotic automaker has apparently been inching up to the initial public offering starting line in the months after its filing with the Securities and Exchange Commission in October last year.

Bloomberg reported in July that UBS Bank would be among the institutions overseeing Ferrari’s debut on the New York Stock Exchange.

Ferrari has a storied legacy in high-performance motoring, and is undoubtedly one of the most sought-after brands for automotive enthusiasts. The vehicle range now features 6 models, some of which are available in various configurations.

The most affordable prancing stallion — the California T — will set you back about $US200,000, and the uber-exclusive LaFerrari, which retailed for more than $US1 million and required an exclusive invite from Ferrari before you could even buy it, has been sold out pretty since it debuted.

Shares of Fiat Chrysler Automobiles, Ferrari’s parent company, were up nearly 2.5% in after-hours trading to $US12.50 per share.

NOW WATCH: We put a GoPro on a $US315,000 Ferrari

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