Yesterday, 20th of October 2015 Ferrari, a major luxury car manufacturer priced its initial public offering on New York Stock Exchange.
According to Bloomberg, Ferrari shares were at the top end of $48-$52 range - $52 per share. The car maker was valued at $9.8 billion.
Trading starts today, 21st of October 2015. We are glad to announce that in the nearest time Grand Capital will introduce a new ticker for Ferrari shares trading which will be available in the Platform 4 terminal and Grand Capital Web-Terminal listed among CFD instruments.
Keep in mind that during the first few weeks high volatility is expected, which will lead to wide spreads.
Stay tuned for updates on CFD Ferrari launch in Grand Capital – don’t miss a chance to trade shares of one of the most expensive brands in the world!
Summary
Ferrari announced IPO plans back in 2014 which was one of the first steps on the way to separation from Fiat Chrysler. Fiat Chrysler claimed earlier that they had planned to make Ferrari a separate company to list 10% of Ferrari shares on American and European Stock Exchanges. As of now, Ferrari takes around 23% of the world’s luxury car market. The companies are to be fully separated in 2016.
The company’s marketing strategy is quite interesting – to produce one car less, although everybody knows that there is usually several-year-waiting list, as the production is limited to 7000 automobiles a year. Despite that, Enrico Galliera, the head of Ferrari sales and marketing department, announced during 488 GTB presentation in Genève: “I have the big responsibility to keep alive this dream that is called Ferrari" which leads us to believe that the production volume is not to be increased any time soon. It means that Ferrari is still a dream for the majority and a luxurious accessory for the few of the richest people on Earth.