Report: Ferrari prices IPO at $52

Ferrari has officially priced its IPO at $US52, according to Reuters.

The company is being spun off from parent Fiat Chrysler Automobiles. At this pricing, the IPO is expected to raise $US890.5 million and value the Italian automaker at $US9.82 billion.

This falls inline with the high end of analysts projections which estimated shares to be priced between $US48 to $US52 per share.

FCA is expected to offer more than 17 million shares or 10% of the company to the public. Ferrari heir will retain his 10% share of the company.

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