Piero Ferrari, son of Enzo Ferrari and vice chairman of the company, poses with a Ferrari 488 outside the New York Stock Exchange after the company’s IPO.
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Ferrari's share sale, which has been in the works for about a year, is critical to help Fiat Chrysler finance a 48 billion euro ($54 billion) investment program focused on expanding the Jeep, Alfa Romeo and Maserati nameplates globally. Ferrari Chairman Sergio Marchionne, also chief executive officer of Fiat Chrysler, has taken both companies' stories on the road in London, New York and Ferrari's home in Maranello, Italy.The public listing will raise more than $4 billion for Fiat Chrysler, thanks to additional cash the Italian-American manufacturer will squeeze out of Ferrari before spinning it off completely early next year. Fiat Chrysler plans to distribute its remaining 80 percent of Ferrari to its own investors early next year.
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