Ferrari has priced its initial public offering at the top of expectations, raising $893 million and valuing the Italian car maker at $10bn. Ferrari pulled out all the stops to market itself to some of its cars' owners as well as Wall Street, and also limited the offering to a 9.1pc stake in the company. The strategy paid off, as the IPO was priced in New York on Tuesday night at $52 per share, the top end of its indicated $48 to $52 per share range. Ferrari's listing comes a week after several big IPOs were discounted or delayed. Payment processor First Data priced this year's biggest public offering below its indicated range, while ... (Read the full story)
