The move was a huge boon for the Italian automaker.
Things are moving forward pretty much as planned for Elio Motors, the company that wants to make affordable, highly efficient three-wheelers in the US.
High-MPG trike maker Elio will use $25 million raised by selling shares to the general public to make 25 test and engineering vehicles.
Ferrari is set to launch its Initial Public Offering on the stock exchange. But will the shares be able to keep up with the investment value of a classic Ferrari?
Ferrari has filed the necessary paperwork with the Securities and Exchange Commission to launch the company's IPO later in the year. The documents don't set a specific timeframe for the offering or price for the shares.
Sergio Marchionne figures Ferrari is worth $11 billion. Yes, that's right: billion, with a B. And we'll soon find out as the company's IPO is just around the corner.
Fiat Chrysler Automobiles is trying to get capital together in a hurry to finance the automaker's growth plans. Among its strategies to raise money, Ferrari will be spun off from the FCA mothership next year with an initial public offering. However, the Italian supercar maker will be a couple billion dollars poorer at the start of its new life.
Israel-based vehicle safety technology company Mobileye (NYSE: MBLY) has successfully launched its Initial Public Offering on the New York Stock Exchange, raising approximately $890 million to value the company at a reported $5.3 billion.
Italian automaker Fiat SpA announced Wednesday that it reached an agreement to acquire the remaining shares of Chrysler for $3.65 billion in payments to a union-controlled trust fund.
There will not be a Chrysler IPO in 2013. Fiat, according to a report from Forbes, has announced that it will not be able to make the American brand's initial public offering before the end of the year, saying that the short, five-week window that makes up the rest of 2013 is "not practicable."
Brammo CEO Craig Bramscher is looking to take a few plays from the Tesla Motors playbook by using its electric-vehicle wizardry to go public, and even plans to go after the same investment bankers that helped the California automaker with its IPO three years ago.
The four-year relationship between Fiat and Chrysler has thus far been beneficial for both automakers, but it has also proven to be a complicated battle between Sergio Marchionne and the United Auto Workers – the latter controlling the remaining 41.5 percent of Chrysler. With the recent filing for a US IPO, it looks like Marchionne and the UAW appear to be playing a billion-dollar game of chicken, with both sides far apart on how much the union's shares are worth. If it comes down to Chrys