Ferrari moves into the fast lane with US IPO

Jessica Morris
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Reports earlier this year suggested Ferrari's flotation would be delayed (Source: Getty)

Luxury Italian sports car maker Ferrari is set to move into the fast lane after filing for an initial public offering (IPO) on the New York Stock Exchange.

Read more: Fiat Chrysler to spin-off Ferrari

Its parent company, Fiat Chrysler, didn't say how many shares it plans to sell or at what price however the new entity will be listed as Ferrari NV.

UBS, Bank of America and Santander are underwriting the initial public offering, according to a filing with the US Securities and Exchange Commission.

A report by the Wall Street Journal recently suggested that the stock market float would be delayed until the end of this year due to tax wranglings.

Last year it was revealed that the company was being spun-off from Fiat Chrysler to ensure the group's “long-term success”.

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