Banks pitch Fiat to float Ferrari in Hong Kong - Ferrari Life
 
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post #1 of 4 Old 09-01-2011, 05:33 AM Thread Starter
 
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Banks pitch Fiat to float Ferrari in Hong Kong

HONG KONG, Sept 1 (Reuters) - Several investment banks have approached Fiat SpA in recent weeks with a proposal to list legendary sports car maker Ferrari on the Hong Kong stock exchange, sources with direct knowledge of the matter told Reuters.

A potential IPO could value the company, founded by Enzo Ferrari, as much as $6.3 billion analysts estimate. Ferrari would join global brands such as cosmetics company L'Occitane International and luggage maker Samsonite , seeking top valuations and deep pocketed investors in Asia.

Fashion house Prada SpA raised nearly $2.5 billion in June, becoming the first Italian company to go public in Hong Kong.

A Fiat spokesman declined to comment when asked if meetings had been held with banks about a possible Ferrari offering. The spokesman referred to comments by Fiat CEO Sergio Marchionne, repeated several times in the past few months including last week, that a Ferrari IPO "is not on the table" for the time being.

(Reporting by Elzio Barreto; Additional reporting by Gianni Montani in Turin; Editing by Denny Thomas)
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post #2 of 4 Old 09-01-2011, 05:47 AM
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This has been going on for some time.

Until the IPO can support a larger number Fiat is not interested - billion dollar question is what is that number.

Even if the number would be enough - I still have a hard time grasping this whole concept of an iconic Italian based company going public.
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post #3 of 4 Old 09-01-2011, 05:58 AM
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Why do I have the feeling this would not be a good idea?


Onno



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post #4 of 4 Old 09-01-2011, 06:06 AM
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Quote:
Originally Posted by JazzyO View Post
Why do I have the feeling this would not be a good idea?


Onno
I see it as a circus act screaming downside - everyone waiting for the lion to eat the trainer.

Ask Sigfried and Roy how that went
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