Racing away from Fiat: Ferrari files for US IPO

Italian luxury sportscar maker Ferrari NV filed with US regulators for an initial public offering of its common stock.

The company is being spun off from Fiat Chrysler Automobiles NV.

UBS Investment Bank, BofA Merrill Lynch and Santander are underwriting the IPO, the company said in a filing with the US Securities and Exchange Commission on Thursday.

The filing did not reveal how many shares the company planned to sell or their expected price.

Ferrari intends to list its common stock on the New York Stock Exchange. The company set a nominal fundraising target of $100 million.

The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

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