Bluefield Partners Reports Ferrari IPO Scheduled For Q3

Top Quote Bluefield Partners: Ferrari's initial public offering will happen in the third quarter of 2015. End Quote
  • (1888PressRelease) June 13, 2015 - Bluefield Partners says that a recent announcement from a senior executive at Fiat Chrysler Automobiles (FCA) effectively pushing back the date for a planned selling off of 10% of the shares it holds in luxury sportscar builder, Ferrari is welcome news.

    "It at least explains the lack of information emerging from the company since the flurry of news earlier in the year. We think there may be some internal wrangling going on over the percentage of shares that'll be offered in the IPO but, of course, no one can be certain," said Naveen Chawla, the Bluefield Partners CIO.

    The announcement was made by FCA's Chief Financial Officer, Richard Palmer during a conference call during which the automotive giant told investors that it earned a profit of $101.2 million in the first quarter of 2015, comparing favorably with a loss of $173 million for the same period a year ago.

    Mr. Palmer said that the 10% spin-off would take place during the third quarter of 2015 but the wider issue of spinning Ferrari off as a fully-autonomous, independent company would be postponed until 2016 at the earliest.

    Conjecture on the identity of the IPO's underwriters continues to be a popular pastime among primary and secondary broker dealers but Bluefield Partners maintains its view that Goldman Sachs and Morgan Stanley are the front-runners for the prestigious appointment.

    "The 'new' third quarter soft deadline at least provides some breathing room because we were becoming more skeptical about the original June schedule as each day passed," said Chawla.

    About Bluefield Partners:
    Bluefield Partners was established in 2005. We are headquartered in Shenzhen, China with presence in Beijing, Shanghai and Hong Kong.

    Bluefield Partners functions as a privately held Investment Counseling and Advisory firm. We render investment and advisory services for individuals, trusts and charities who want their wealth managed professionally. Portfolios are tailored for each client on an individual basis. We are committed to enhancing your wealth and protecting your future.

    Contact Bluefield Partners:
    6401/6405 KK100 Building 5016
    5016 Shennan E Rd
    Luohu, Shenzhen
    Guangdong, China

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