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Author Question: Article SummaryIn an effort to raise funds to cut debt, Fiat Chrysler is selling a stake in Ferrari ... (Read 48 times)

dollx

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on: Oct 7, 2019

Article Summary

In an effort to raise funds to cut debt, Fiat Chrysler is selling a stake in Ferrari through an initial public offering (IPO) to be valued at as much as $9.8 billion. 17.2 million shares of stock in the company are to be sold, and the stock will be traded on the New York Stock Exchange under the symbol RACE. One analyst speculates that requests for shares in Ferrari may be ten times less than the number available.  Including debt, Ferrari will have a value of about $12 billion, and chairman Piero Ferrari will keep a 10 percent stake in the new company and receive about €280 million in cash. Before taxes and interest, Ferrari's 2014 earnings were €389 million, with revenue of €2.8 billion.

Source: Tommaso Ebhardt, "Ferrari to Be Valued at Up to $9.82 Billion in IPO," Bloomberg.com, October 9, 2015.



When Ferrari sells stock to the public in its IPO, it will do so through the New York Stock Exchange. This is an example of Ferrari using ________ to raise funds.


◦

bonds


◦

indirect finance


◦

direct finance


◦

corporate governance

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Marked as best answer by dollx on Oct 7, 2019

succesfull

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Reply #1 on: Oct 7, 2019
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dollx

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Reply 2 on: Oct 7, 2019
Thanks for the timely response, appreciate it

bigsis44

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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