October 20, 2015 / 5:58 PM / 2 years ago

Ferrari IPO price expected as high as $53 - CNBC

A Ferrari logo is pictured at an annual fall drive, organized by a Ferrari club, in Fishkill, New York October 18, 2015. REUTERS/Eduardo Munoz

REUTERS - Luxury carmaker Ferrari’s initial public offering could be priced as high as $53 per share, CNBC reported, citing sources.

At that price the company would be valued at $10 billion. The price is above the previously indicated range of $48-$52 per share for the IPO.

Ferrari is expected to start trading as public company on Wednesday.

Reporting by Rachel Chitra in Bengaluru; Editing by Savio D'Souza

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