Ferrari prices IPO stock at $52 per share, values company at $9.8 billion

The cheapest way to own a Ferrari: Roughly $200,000 for its least expensive road car. The cheapest way to own a piece of Ferrari: $52 per share.

Ferrari has priced its stock at $52 per share for its initial public offering (IPO), reports CNBC. That means Ferrari is valued at $9.8 billion. The company set pricing at the high end of its initial estimates, with trading set to begin Wednesday Oct. 21.

Last week, it was reported Ferrari stock was oversubscribed ahead of the IPO. Ferrari will offer roughly 17 million shares, accounting for a little under 10% of the company, keeping demand high. Its parent, Fiat Chrysler Automobiles (FCA), will retain 80% and founder Enzo Ferrari's son, Pierro Ferrari, will retain 10%. Read more...