Ferrari’s Milan IPO Seals the Deal
A blow-by-blow account of the Italian supercar firm’s debut on its domestic stock market.
Monday morning, Milan. Un nuovo traguardo. E una nuova partenza! A new milestone, a new start! So said Sergio Marchionne, announcing Ferrari’s domestic market stock IPO in Milan, completing its corporate divorce from Fiat-Chrysler. Together with Borsa Italiana CEO Raffaele Jerusalmi and Italian Prime Minister Matteo Renzi, among other exquisitely dressed white men, Marchionne breakfasted on red wine and sweet cheese in the Borsa by Ferrari© Trading Pit, part of the newly-launched Finance by Ferrari© Collection, available exclusively at Ferrari Classiche© Authorised Financial Markets.
“The choice of Ferrari to go public in Milan confirms the central role of the Italian Stock Exchange, increasingly recognized internationally as a center of reference for the valuation of securities and expression of luxury-ness,” said Jerusalmi, resplendent in red and yellow driving shoes, slacks, blazer, underpants, cufflinks and contact lenses.
Initially priced at €43, Ferrari trading halted several minutes later after automatic circuit breakers kicked in due to a freefall in prices. (Note: A Ferrari spokesperson later explained this is routine, but the engine would have to come out, and the fuel bladders would probably cost $15,000 to repair). By the time Lunch by Ferrari© rolled around, however, Marchionne and company were dining on a light meal of short rib agnolotti with black chantarelles, and the price had rebounded. “Ferrari é vinta tutto!” said Marchionne, proudly unveiling Milan’s new motto, freshly carved into the facade of the city’s historic Basilica Santa Maria delle Grazie by Ferrari©.
Closing the day, Ferrari announced a slate of new models for 2016, including the Ferrari F12berlinetta Ferrari Edition by Ferrari; the Ferrari 488 GTB-S Speciale Challenge Cup T Spyder; Ferrari California Mille Miglia Coupe Evoluzione; and new the Ferrari FF (now renamed the Ferrari Ferrari Ferrari, or Ferrari FFF).*
*Okay. So that’s not exactly how it went down. But it really was a wild day for Enzo’s boys on the Milan stock market.
