Fiat Chrysler Automobiles is offering more than 17 million shares of Ferrari stock, as it gears up for its IPO.
Ferrari will park on the New York Stock Exchange under the ticker symbol RACE.
The value of the newly public Italian maker of exotic, sexy sports cars is expected to reach $9.8 billion.
Earlier estimates suggested Ferrari’s value could climb as high as $12.4 billion.
FCA and Ferrari have priced their offering at between $48 and $52 per share, potentially raising $894 million in the IPO.
A Ferrari IPO has been rumored for years. Last year, longtime Ferrari Chairman Luca di Montezemolo stepped down, replaced by FCA CEO Sergio Marchionne.
It was suspected that the two men had clashed over differing visions of Ferrari’s future. Montezemolo wanted to preserve Ferrari’s exclusivity and hold production at around 7,000 cars per year.
Marchionne wants to build more Ferraris to satisfy a global demand for high-end luxury products. Ferrari, with cars that start at $200,000, definitely fits that description.