Haute Auto: Ferrari Denies Plans for IPO

Image: autoevolution.com

Ferrari, which is owned by Fiat, has announced that they are not planning an initial public offering (IPO) despite sources previously indicating in September that several investment banks had approached Fiat with a proposal to list Ferrari on the Hong Kong stock exchange.

Luca di Montezemolo, the chairman of Ferrari, recently told German newspaper, Sueddeutsche Zeitung, that his company is not planning on going public anytime soon.

“No, there is nothing on the agenda. Fiat does not need any moment at the moment, they are doing fine. If you ask me what will happen in 10 years: no idea. But at the moment it is not on the agenda,” he said.

Source: Auto Blog