MILAN — Ferrari’s filing for an initial public offering provides the supercar maker with a chance to burnish its brand and boost sales, analysts said.
The IPO is part of Fiat Chrysler Automobiles NV Chief Executive Officer Sergio Marchionne’s plan to raise about $5 billion to reduce debt and help fund a $53 billion investment program that focuses on expanding Jeep, Alfa Romeo and Maserati brands globally. Ferrari, which would trade on the New York Stock Exchange, is to be spun off by early 2016.
“It really provides Ferrari with a chance to reinforce the brand and have people understand why the Ferrari is today the key symbol of prestige,” said Alexander Edwards, president of the San Diego-based consulting firm Strategic Vision. “I don’t think Ferrari is going to see a drop in sales.”
